Home Prices: Mobility and Poster Child

home prices: Surging home prices and rising income inequality are reducing migration and leaving some Americans left behind in stagnant communities, according to a research paper published in June, according to Market Watch. Even worse, those dynamics feed on themselves, making the problem more intractable. America has fallen and it can't get up. Despite America's history as a beacon of opportunity, upward mobility, and shifting frontiers, the United States' status as the global poster child of dynamic labor mobility is waning, write the researchers in a paper published by the International Monetary Fund. That discourages workers from leaving low-cost areas with fewer opportunities for more productive ones with brighter prospects the kind of mobility that best supports economic opportunity and vibrancy. The paper's authors use Census data on migration, the Zillow Home Value Database and income data from the Census and Labor departments to make their case, that a steep decline in interstate migration it halved between 1980 and 2016 can be attributed to what they call increasing differences in house prices. (news.financializer.com). As reported in the news.