College-educated workers are leaving big coastal cities

College-educated workers, including lawyers, consultants, and engineers, are increasingly leaving big coastal cities like New York, San Francisco, and Washington DC. This shift in migration patterns has started about a decade ago and is driven by factors such as the high cost of living, specifically the cost of housing. These workers, who were once the lifeblood of these cities, are now moving to smaller cities that offer more affordable housing options, such as Austin, Nashville, and Salt Lake City. The pandemic and the rise of remote work have further accelerated this trend, allowing workers to relocate to cheaper cities while keeping their jobs. However, the exodus of college-educated workers poses challenges to the big cities, including economic activity loss, tax revenue loss, and the potential gentrification of the receiving cities.