Perhaps people’s perception of the risk of living in a smaller town is sufficient to merit the risks of higher land prices in some of the wealthiest and most expensive cities in the worlds. Namely the risk of losing your source of income in a small town and the increased probability of higher income/access to opportunities in major cities.
Of course, it is a pendulum, and it is possible people’s perception swings too far towards the small town and the big city and back and forth.
Of course, it is a pendulum, and it is possible people’s perception swings too far towards the small town and the big city and back and forth.