Personally, I live in a relatively small city and my income is far higher than my expenses. I once lived in London and the two were almost equal. Life was less comfortable then but I certainly didn't blame the rich bankers for pushing up my rent and bus fares.
No, they're not. Employment, especially mid-to-high-wage employment, is geographically concentrated. Most of the land-area of the USA, so to speak, is poor, and getting poorer. Also, remember, 80% of the population actually lives in large metro-areas, not in the countryside.
If you don't believe they're valuable contributors, I challenge you to describe how any high-CoL metro would successfully function without blue collar service workers.
I don't know your particular situation, but moving in a place you already know is expensive is an entirely different case than being priced out of a place you've already been living. (Plus it's hard to blame individual bankers or techies or whatever for it, it's more of a matter of public policy).