I'm probably mangling this quote, but isn't NYC described as a place where you have to earn $200K/year to solve problems that don't exist anywhere else in the country?
I'd rather pay the paradise tax.
My BIL the CPA lives in the DC area and works in Annapolis, and his spouse's career is at a local public utility. These days he's in a position where he gets to do his own thing without supervising anyone (he hates being a boss) so he's only miserable during tax-filing season. She does her grid-programming job and doesn't dislike the office camaraderie, although she also did just fine telecommuting for most of 1999's Y2K software reviews.
They're not seduced by the DC ambiance. The two of them have decided to ER together when she reaches age 55 and qualifies for retiree medical benefits (with him on her plan). Neither one is enthralled by their jobs or by the power and they won't miss their jobs for a millisecond.
But they enjoy being able to see big museums & theater and [-]classic-rock concerts[/-] other culture whenever they want, and they enjoy all the other amenities (& family) of the area they were born & raised in. I think Martha has it right-- most people don't want to move and will adjust their lifestyle & portfolio to accomodate their preferences.