It’s a crisis for all of us, even homeowners, because it imposes massive drag on the economy. Much of economic growth is driven by people relocating from low pr

It’s a crisis for all of us, even homeowners, because it imposes massive drag on the economy. Much of economic growth is driven by people relocating from low productivity regions and firms to high productivity regions and firms. When housing costs explode, there’s no way for that to happen. New entrants have no way of getting on the property ladder in HCoL areas with high paying jobs. We all lose out from the stuff that doesn’t get made and the innovation that doesn’t happen because IT help desk specialists at regional banks can’t become data scientists at tech startups because they can’t afford to move from West Virginia to Seattle