This is what has trapped me now. I'm not too keen on living here anymore, but don't want to miss out on ski + climbing + hiking.
The trick is to work for a Valley firm, making Valley wages, and telecommuting; SAP is the only local shop that pays a decent wage.
In Seattle now and it's a great compromise. Similar wages to the Bay Area but similar geography and outdoor access as Vancouver. And even with the exchange rate housing is cheaper than Vancouver.
The bigger problem is the relatively low wage.
And on top of that everything is more expensive in Canada.
Seattle is definitely the economic sweet spot, and I would live there if it wasn't for the weather and the companies I can work for.