I 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

I 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.