The New Yorker | Summarizes an expanding body of research, including work by Peter Ganong and Daniel Shoag (Ph.D. '11), Associate Professor of Public Policy, which suggests that the unaffordability of wealthy cities is itself a source of decreasing opportunity and a contributor to income inequality.
To learn more, see Ganong and Shoag's discussion and link to their paper, "Why Has Regional Income Convergence Declined?", at the Brookings Institution here.