While you're correct, and I do account for this in my statement, most studies on the topic found that people refuse to move not due to financial reasons but due

While you're correct, and I do account for this in my statement, most studies on the topic found that people refuse to move not due to financial reasons but due to social support systems, primarily family or cultural connections. Something that's not entirely unique, but relatively uncommon in the US, is large cultural and ethnic enclaves in cities, New York City happens to be home to largest number of these, and therefore many people grow up in New York City ingrained into a culture that ties into their ethnicity, and the city itself, in a way which they would not find anywhere else in the US if they moved. Leaving this and family behind to leave the city is considered untenable by many people, especially in cultures that emphasize family connections and multi-generational households as the norm. These emotional draws are much more meaningful and significant causes for why people don't move than whether or not they can afford the U-Haul one time.