A new report reveals why housing prices and the ability to move between cities is a national issue. Jobs listing website, Indeed.com, has released new findings showing that the best paying tech jobs are concentrating in fewer superstar cities.
“Higher-salary technology occupations are becoming increasingly concentrated, while lower-salary technology jobs are dispersing slightly to the rest of the country.”, writes Indeed.com economist, Jed Kolko. “In this sense, the US technology jobs landscape is becoming more unequal—yet another example of how the country is becoming increasingly differentiated and polarized.”
Just 8 cities account for 27% of tech job openings, according to the analysis. Unfortunately, these areas are also becoming less hospitable to many Americans, especially those with families, who have difficulty affording the high rental prices.
National policymakers have been reluctant to get involved with land-use reform, a liberty that many cities leverage to restrict the number of new apartments that can be built, driving rental prices higher than they otherwise would be.
If equal access to high paying jobs is a national priority, America may have to adopt a national housing policy, similar to Japan. Until then, housing prices will continue to exacerbate inequality of opportunity.