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As a resident of Los Angeles, this seems anecdotally (which has the usual caveats) obvious to me. I saw home ownership lead to issues with employment within the Los Angeles metropolitan area. There is a lot of "affordable" ($400K to $600K) single family homes in the San Fernando Valley, or towards Orange County, so I had a lot of coworkers buy homes in those areas. If you work in Venice, a house in Torrance is about a 45 minute commute by car. I know this will sound absurd to a lot of people in HN, but if you told a Los Angelan your commute to work was 45 minutes each way, they would say "that's pretty good." However, if you bought a home in Torrance and live there and a company in downtown LA wants to hire you, even though you're only driving about another 8 miles or so, your commute will probably explode close to an hour and a half, and at least one day a week there'll be some clsuterfuck of an accident on one of the freeways, and you'll have the lovely experience of leaving your house at 8:00am and somehow still being late to your 10:00am stand-up meeting. Fun times! So I saw home ownership cause former coworkers limit their economic mobility to within one section of one city. For them, it was an option to simply wait until a desirable job opened up in the areas with a bad-but-not-intolerable commute, or they were able to mitigate commutes by negotiating flexible hours with their employers (e.g. working 7am to 3pm, or 11am to 8pm, or only coming in 2-3 days a week, etc). I recognize Los Angeles' traffic is about as bad as it gets as far as a home ownership "anchoring" someone, but if home ownership causes a reduction in mobility for professionals in a high-earning and high-demand field, I can only imagine the kind of impact it has on the rest of America. |
I don't think most people in America suffer in quite the same way. Ok, the NYC area can be that bad but most people use mass transit. Maybe there's room to make the roads even wider in CA?
Seriously, the problem is self-inflicted and was easily avoidable with some better urban planning 4-5 decades ago.