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I completely agree, but there are good reasons not to want to move. If you've lived and worked with the same people for the past 30 years, you may not want to p
by leggomylibro 10y ago
I completely agree, but there are good reasons not to want to move. If you've lived and worked with the same people for the past 30 years, you may not want to pack up and leave that tightly-knit community when the factory shuts down. Further, if you have a mortgage, it may well go underwater as property values plummet.
On the other hand, the US has (had?) an array of social programs to help people in those situations transition into new roles. The Atlantic published a pretty good piece* on why they haven't wound up working out as well as they could, and it does sound like a major reason is that people won't move to where the jobs are. And regardless of their reasons for wanting to stay, that usually is on them, isn't it? Otherwise, they're essentially asking the government to subsidize their lifestyle choices.
* https://www.theatlantic.com/business/archive/2016/10/trade-winners-losers/504584/ https://www.theatlantic.com/business/archive/2016/10/trade-w...
- reubenswartz 10y agoI think the property value issue is important. If a major employer closes and people want to leave/no one wants to move there, property values go down. Even if you're not underwater, you're in a much worse position. To move to a place with more opportunity is much more expensive, especially if you have no guarantee of long term, stable employment.
- anovikov 10y agoNo one has that guarantee these days. Also you are in a much worse position regardless of if you sell or not.