Comment by jparishy
10 hours ago
Hey thanks for posting this perspective w/ the link. Fun rabbit hole to go down stuck in a hotel tonight. I wonder if you think something explanatory is missing in _all_ of these different indices, in the "where there's smoke, there's fire" sense of economic anxiety on display today
The sense of economic anxiety is due to increasing economic efficiency and sorting. It's not that the cost of living somewhere has gone up as much as people think. It's that the market is efficiently allocating housing in the place you grew up, near your parents, family, and friends, to Google and Facebook engineers. But you can still get a house twice as big as what your parents had at your age in a new subdivision in Tennessee.