cv2- I work in one of the R&D companies in the area you described. The only R&D people that I know who live in CV (you are correct there are a lot) bought before the boom and have no problem making their mortgage payment. If that extrapolates out to be true of the general population of CV, it may explain why that neighborhood’s home values are not going down as much as others. Also, there are several hospitals close by so you have M.D.’s to buy in CV too.
IMO generally outsourcing’s affect has been minimal so far. A lot of the overseas companies are not very good or absolutely stink. It may become a factor in the future as overseas companies become better. To me what is more of a factor are simply larger companies significantly reducing headcount and/or closing sites. The Ph.D.’s are scared to death and have been for several years now. It is much harder for them to find a job and most would have to move and eat hundreds of thousands of dollars when forced to sell.
