This is only the case if everyone has to stay in their city. We are already seeing jobs migrate to smaller metros in the United States in order to reduce wage c

This is only the case if everyone has to stay in their city. We are already seeing jobs migrate to smaller metros in the United States in order to reduce wage costs. Employees will follow, and pressure will reduce. We see this with the large investment banks and internet companies. Before this, we saw this with the large manufacturers. Believe it or not, cars used to actually be manufactured in Detroit city limits. Baltimore was full of canneries, etc. I'll be the first to admit it sucks, and I don't feel like moving ---I selfishly want other people to move. I also selfishly want other people to buy condos so I can live in a single family house. But life is full of such tradeoffs for those making less than the top 99% or so of their region's income.