The rise in housing costs in urban areas has eroded the urban wage premium for non-college-educated workers, potentially pushing them to seek opportunities in rural regions.
Strict zoning laws and tedious permitting processes have hindered the construction of new housing, resulting in escalating prices for existing homes and a competitive market that is unsustainable.
Despite some college-educated workers seeing an improved situation, the overall trend indicates a slowdown in urban migration, pointing to a troubling future for cities reliant on population growth.
Cities like Minneapolis, Nashville, and Austin show that innovative housing solutions can still lead to prosperity, emphasizing the need for proactive policies to address housing shortages.
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