I've never lived there, but I visit often for work. Primarily two reasons - the first is that I'm starting a family and neither I nor my wife have any family there. The second is, as you guessed, the home prices. If I wanted something even remotely affordable, I'd have to live far away and have an insane commute. We've already lived that lifestyle in NYC, and we're not eager to return to it.
Well, family is more than just daycare for one thing. But the larger point is that I don’t see my reasons as issues that need to be addressed. Silicon Valley is not the center of my universe.
