> They're gaining access to high-cost cities like New York or San Francisco that offer so much more than good jobs: more restaurants, better schools, less crime

> They're gaining access to high-cost cities like New York or San Francisco that offer so much more than good jobs: more restaurants, better schools, less crime, even cleaner air. Yes, and a lot of these folks are spending the vast majority of their disposable income on housing and discretionary income on the so-called "amenities" mentioned in the article. Don't get me wrong: it's great to be able to live in a desirable area with high employment, but at the end of the day, it's not what you make, it's what you keep. There are a lot of folks like this guy[1] who confuse cashflow from employment with financial security. The paltry savings rates in this country aren't just a product of the less educated, lower-wage workers. If you look at national averages, it's pretty obvious that most college graduates aren't doing a great job of converting their higher wages into savings and assets. [1] https://news.ycombinator.com/item?id=5505622 https://news.ycombinator.com/item?id=5505622