We review the observational data on prominent nearby star-formation re
gions like the Chamaeleon, rhoOph, Orion and Taurus-Auriga-Perseus, wh
ich stand out of the galactic plane, to show that there are strong arg
uments in favor of a common explanation for the displacement of these
molecular clouds with respect to the galactic plane in terms of impact
of high-velocity clouds on the gas of the galactic disk. We propose t
hat star formation by infall of high velocity clouds is a dominant pro
cess in the solar neighborhood. With a simple hydrodynamical model we
show that recently formed stars tend to separate from the gas in which
they formed, since they are no longer subject to hydrodynamical braki
ng or acceleration, and tend to form aligned groups of stars in a sequ
ence of ages. The model reproduces many aspects of the morphology of t
he cloud complexes studied, as well as the relative position of young
clusters of stars associated with them, and their age sequence. Our mo
del constitutes an alternative to the traditional sequential star form
ation model. A number of implications of this new interpretation of th
e evolution of the nearby molecular clouds are briefly discussed.