We need to remake and reinvent our housing system so that it supports the flexibility and mobility of our economic system broadly. Home-ownership is rewarded by the federal tax code, which made great sense when that piece of the American Dream, and all the consumption that came with it, was essential to rebuilding the economy. These days, however, it feels like a huge penalty to people who want to travel light within the new mobile economy without a mortgage to hold them back.

Housing has always been a key to Great Resets. During the Great Depression and New Deal, the federal government created a new system of housing finance to usher in the era of suburbanization. We need an even more radical shift in housing today. Housing has consumed too much of our economic resources and distorted the economy. It has trapped people who are underwater on their mortgages or can't sell their homes. And in doing so has left the labor market unable to flexibly adjust to new economic realities.

The creative individual is no longer viewed as an iconoclast. He—or she—is the new mainstream.

Already, new forms of short-term and long-term rental housing are popping up in some metro areas. You can take on a house or apartment for a few months or even a year or two in developments that are striving to provide critical elements of community - schools, healthcare, social and cultural institutions - even for people who are living there only temporarily. People invested in a home, mortgage, or community are less likely to move to more economically vibrant locales. That kind of entrenchment is going to be an impediment to the coming spatial fix.

Builders need to take their preeminent position back from the traders for the economy of the future to flourish.

New Jersey boasts the highest percentage of passport holders (68%); Delaware (67%), Alaska (65%), Massachusetts (63%), New York (62%), and California (60%) are close behind. At the opposite end of the spectrum, less than one in five residents of Mississippi are passport holders, and just one in four residents of West Virginia, Kentucky, Alabama, and Arkansas.

Beneath the surface, unnoticed by many, an even deeper force was at work—the rise of creativity as a fundamental economic driver, and the rise of a new social class, the Creative Class.