Stay-put nation

How America Lost Its Nerve – Derek Thompson, The Atlantic

Americans today are strangely averse to change. They are less likely to switch jobs, or move between states, or create new companies than they were 30 years ago.

Increasing housing prices are keeping Americans where they are, and when they do move they move from wealthier areas – where housing is more expensive – to poorer areas, where housing is cheaper. That’s the opposite of the pattern through the 19th and 20th Centuries, when Americans moved to find work and prosperity in wealthier areas.

Moreover, entrepreneurship is concentrating in wealthier areas, widening the wealth gap.