Americans Aren't Moving{large image}

[xchrom]

http://www.businessinsider.com/us-long-term-decline-in-household-mobility-2014-7




The household mobility rate, or the percent of the population that moves into a new home in a year, has been in a long term decline. This trend has been unfavorable for the housing market, which in turn has been a drag on GDP.

According to Michelle Meyer at Bank of America Merril Lynch, the household mobility rate has been slowing since the mid-1980s,

A key driver of this trend has been the rise of homeownership in the 1990s. Homeowners are less like to move than renters. It's much more expensive for homeowners to move because of broker fees, transaction costs, mortgage fees, insurance and so on.

From 2000 on, aging population and changes in the labor market have also been negative for household mobility.



Read more: http://www.businessinsider.com/us-long-term-decline-in-household-mobility-2014-7#ixzz373ie75HV

[newfie11]

1. Except in the Black Hills apparently

Homes are selling quickly and subdivisions are cropping up all over.

I had been gone for 11 years and when I came back last October I was shocked!

What used to be all forest now has subdivisions on 2 acre plots.

[MisterP]

3. IIRC 80% of new housing is intended for the top 10% of buyers

note how crammed-together, lawn-free, and just plain fugly so much of post-1980 developments are (whereas even the Levittowns have acquired some character by now) it's because with the neolibs' finance capital and looser credit and markets (and mortgage bundling and and and) the "growth machine" became a full-blown source for speculation (hence they're often ill-constructed): the houses are designed (though that's the wrong word for them, really) to be resold rather than lived in

[newfie11]

4. There are so many folks moving into this area

That I suspect this is what's going on here. Many are retirees ( strange with our weather).

[MisterP]

5. isn't there fracking nearby? that often attracts huge boomtowns (and fast

money that gets soaked up by booze and meth)
(though in Alberta's case any Ft. McMurray crime seems to have been offloaded at "Deadmonton&quot

[newfie11]

6. Not that I know of in the Black Hills

Nebraska and N Dakota has lots of it.

[Squinch]

2. Interestingly, it seems like a pretty stable rate of decline too.