"We have been asked a lot whether we expected that states like New York and California would do so badly in the happiness ranking. Having visited and lived in various parts of the US, I am only a little surprised. Many people think these states would be marvellous places to live in. The problem is that if too many individuals think that way, they move into those states, and the resulting congestion and house prices make it a non-fulfilling prophecy. In a way, it is like the stock market. If everyone thinks it would be great to buy stock X, that stock is generally already overvalued. Bargains in life are usually found outside the spotlight. It may be that exactly the same is true of the best places to live."