Will Remote Start to Affect Tech Salaries?

As we all know many companies who never managed employees remotely are now forced to do it for months and months due to coronavirus. Speculation has it that many companies will find out first hand productivity isn't being hurt when managing teams remotely, and they may actually reduce office space in expensive cities and become more remote friendly. If these assumptions are correct, do you think a cascading affect can happen where Silicon Valley firms start hiring remotely outside Silicon Valley (first from cheaper U.S countries) ? But it's not necessarily going to stop there. Once you are experienced in managing someone remotely from California to Ohio, why not offshore it to Mexico or Canada? The question of tech offshoring has been discussed a lot, but my question is whether the current situation is actually going to give it a very big push. The U.S is just an example obviously, I can see this happening in the EU or anywhere else for that matter.