Source: Marginal REVOLUTION
The absence of official exit statistics since the 1950s has masked a structural economic shift: cost-of-living arbitrage is now a viable lifestyle strategy for a material portion of the population, enabled by remote work and digital banking. This breaks from post-war American geography, where job proximity dictated settlement patterns, and creates pressure on high-cost metros (particularly coastal tech hubs) to compete on factors beyond employment concentration—effectively decoupling where people live from where companies are headquartered for the first time at scale.