But you're absolutely right that a lot of new college grads want to live in the city and maybe not even buy a car.
The majority of the established workers already own houses in the suburbs, exurban areas, and even NH. For many of them, a location that's actually in the city is a bug, not a feature.
> older "top talent."
Older top talent often has the resources to actually buy houses even in expensive areas, anyway.
Maybe at the toppest-top, but it's a struggle for anyone with even a high normal-range income to buy a home in the Bay Area.
- LIC Queens high rises have 2/2 rentals that go for $17k/mo. ~ 1200sq feet. High floors. Ok views. Ok buildings. - In Manhattan those are $22k-$30k/mo in newer buildings and $15-20k/mo in older hifg rises.
They aren't full of tech bros. They are full of finance and attorney bros. I have an acquaintance that lives in one. He is one of the portfolio managers for one of the hedge funds. He is a salary only manager. By the standards of NYC apartments qualification, it means his take home after taxes has to be at around 65k/mo as proven by his tax returns for last two years.
I wonder if the real situation is that it's easier to attract young "top talent to cities with halfway decent urbanism than to cities that are more like giant suburbs." That's also tends to be kind of talent that's willing to work way more than is really good for them. The suburban lifestyle is more suited for established families and older "top talent."