On: Investors bought a quarter of US homes sold last y...

[akamia]

One practical benefit for the well-off is having people in close proximity who can staff their local restaurants, shops, schools, etc.

It's much easier to hire and retain staff for your business when your pool of potential employees isn't a 30+ minute bus ride away.

For the well-off residents, it means better and more consistent service at their neighborhood grocery, coffee shop, restaurant, pharmacy, etc.

[giantg2 → akamia]

That can be good. I guess many of the cities I've lived in or near had cheaper housing within 30 minutes of most areas.