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Original point was that a forced move carries a financial cost, as home prices rise - this financial cost rises relative to income. This dynamic creates a disin
by lumost 2y ago
Original point was that a forced move carries a financial cost, as home prices rise - this financial cost rises relative to income. This dynamic creates a disincentive for individuals to move due to the cost relative to income. If individuals are disincentivized from working on the highest impact projects they can - you'd expect an impact on economic productivity.
It's a large financial benefit to own a home, it's a massive cost to move for a job if that forces you to abandon home ownership in favor of renting. This cost would incentivize workers to work at jobs which don't make use of their skills or avoid jobs which could leave them in a career desert of a location.