Fewer Americans Are Moving Each Year. Do We Love Our Homes, or Are We Stuck in Them?
Moving, complete with all its stress, excitement, and sweat, is a hallmark of the American experience. But according to new research from the Harvard’s Joint Center for Housing Studies, moving trucks are slowly becoming a less common sight in many neighborhoods. While 13% of all Americans moved in 2006, just 11% did last year.
What’s behind this trend? There’s no single cause, but a few demographic and market shifts are likely causes. First, we’re getting older; many aging boomers are not downsizing (or perhaps, cannot downsize). Second, younger households are delaying family formation for many reasons – pushing the need to find a larger home further into the future. Finally, as demand outpaces supply and incomes stay flat, finding a desirable home in a desirable neighborhood that meets your budget is harder than ever.
So next time you rent that U-Haul, consider yourself special.
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