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This is a function of US business management eschewing remote work by and large, and even further, insisting on locating most work opportunities in more prestig
by yourapostasy 8y ago
This is a function of US business management eschewing remote work by and large, and even further, insisting on locating most work opportunities in more prestigious, more expensive areas of metro geographies (which are already more expensive per unit area than suburban, exurban, or rural areas), than choices by employees to live "a ridiculous distance" from those opportunities. Take away the massive subsidies to the FIRE sectors, drop real estate closer to 10% of after-tax income to compensate for the US' inefficient health care system (then as we wring out those inefficiencies, rebalance the allocations back towards 20-25% of after-tax income to housing), and employees will flock towards city centers.
I've read all the calls for Americans to give up their ginormous houses and lots, etc. That is tone deaf to the dynamics of the business of residential development markets in the US, again excessively skewed by FIRE sector subsidies, with runaway municipal development fees and processes and bank financing herd trends adding unhelpful vectors. Before John and Jane Doe even pull up to the highway exit leading to the housing development, their limited choices were already baked in for them by other, far more monied and powerful actors.
Incentives matter.