Imagine cost was not a concern and Americans could move to their ideal locations:

The cost crisis isn’t just making people broke. It’s making them homeless in a different sense, forcing them to abandon places that used to feel like theirs.

More than a third of respondents have already moved because where they were living became too expensive. About a third of those relocated to a different city, while another third left their state entirely, searching for someplace they could actually afford. Half of Gen Z respondents reported moving due to costs, compared to just 19% of baby boomers.

What’s worse is how many Americans have stopped dreaming. About half of all respondents don’t believe they’ll ever be able to afford living in their “ideal” city or state. Among Gen Z, nearly two-thirds have abandoned hope of affording their ideal city. That’s not just about housing markets or inflation. That’s about an entire generation learning to aim lower because aiming higher feels pointless.

The geography of affordability matches expectations. Coastal states and mountain resort areas rank as largely out of reach, with Hawaii, Alaska, and Colorado at the bottom. California, New York, and Illinois aren’t far behind. Meanwhile, Southern and Midwestern states dominate the affordable rankings, with Mississippi, Alabama, and Oklahoma at the top.

Would everyone chase warm weather? Meaningful work opportunities? Centers of entertainment and leisure?

We could chalk up the mismatch between where people live and where they want to live to their choices. Can’t anyone move anywhere in the United States? Can’t people pursue certain careers and/or education that leads to opportunities? Perhaps it is a matter of preferences: some people want to live in rural areas and others want to live in big cities?

Of course, we do not have a system where costs do not matter. Housing is the largest budget item for many households. Finding a quality place to live is often expensive. If lots of people want to live in the same places, this drives housing costs higher unless adding more units to the local supply helps offset the demand. If millions of more people want to live in the largest metropolitan regions, what would it take to make it possible? Would it be desirable if more people gathered in the already populous places?

These are questions to consider as people and places struggle with housing prices. Not being able to live where people want to live could have all sorts of downstream effects.