Surging home prices and rising income inequality are reducing migration and leaving some Americans “left behind” in stagnant communities, according to a research paper published in June. Even worse, those dynamics feed on themselves, making the problem more intractable.
See: As the housing market stagnates, American homeowners are staying put for the longest stretches ever “Since lower labor market churning leads to a less-efficient allocation of labor, it also reduces productivity and output,” the researchers write.
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