The Real Cost of Expensive Housing

Picking up and moving to new opportunities has always been a part of the American dream. But, says Tamim Bayoumi, a deputy director at the International Monetary Fund and a co-author of the paper “Stranded! How Rising Inequality Suppressed US Migration and Hurt Those Left Behind,” that narrative has shifted in modern America. As well-paying jobs are increasingly concentrated in cities with high living costs, some Americans find themselves unable to pursue the careers that could most help them and their families.