Crises like these tend to pop bubbles. The "everyone has to be in one of 5 or 6 cities to have a career" bubble is popping. It's terrible for the inhabitants o

Crises like these tend to pop bubbles. The "everyone has to be in one of 5 or 6 cities to have a career" bubble is popping. It's terrible for the inhabitants of these cities as it makes them unaffordable, and it's terrible for everyone else as it makes it impossible for them to accumulate wealth and drains the rest of the country of talent. The only beneficiaries are pre-existing property owners in these cities, and banks to some extent.