I also suspect, but don't have evidence to back it up, that it will also further contribute to socioeconomic divides. You grew up in a wealthy neighborhood and

I also suspect, but don't have evidence to back it up, that it will also further contribute to socioeconomic divides. You grew up in a wealthy neighborhood and decide to live close to family? Here is a pay package at X. You grew up in a poverty-stricken area in a poor state, and need to live close to home to support your family? Well the cost-of-living there is 60% cheaper, so here is a pay package at X*(1-0.6). People who have the ability to move most likely still will, because it is economically viable. People who have family obligations and grew up in less affluent areas will be the ones getting the short end of the "location-adjusted-comp" stick.