Slump Creates Lack of Mobility for Americans

[ccharles000]

Stranded by the nationwide slump in housing and jobs, fewer Americans are moving, the Census Bureau said Wednesday.

The bureau found that the number of people who changed residences declined to 35.2 million from March 2007 to March 2008, the lowest number since 1962, when the nation had 120 million fewer people.

Experts said the lack of mobility was of concern on two fronts. It suggests that Americans were unable or unwilling to follow any job opportunities that may have existed around the country, as they have in the past. And the lack of movement itself, they said, could have an impact on the economy, reducing the economic activity generated by moves.

Joseph S. Tracy, research director of the Federal Reserve Bank of New York, said the lack of mobility meant less income for movers and the people they employ and less spending on renovation and on durable goods like appliances. But, Dr. Tracy said, the most troubling prospect is that people were no longer able to relocate for work.

http://www.nytimes.com/2009/04/23/us/23census.html?_r=2

[ananda]

1. Stagnation and depression..

.. in so many ways.

[Coyote_Bandit]

2. Last time I moved

the movers charged about $7000 for a move that totaled somewhere around 250 miles. That was a number of years ago. I moved a small two bedroom townhouse - where I had lived for less than a year after moving from a small one bedroom apartment.

Next time I move it will be out of this frickin city. I can move within a 100 mile radius to a fairly sizeable metropolitan area and reduce my real estate taxes by over 50%. That'll easily pay for truck rental, gasoline and trip insurance for several trips back and forth. A couple of years of tax savings would pay the frickin movers.

I have twice moved from one state to another for work related reasons. I will never again relocate for that reason alone. I hated one of those destinations for reasons completely unrelated to my work. After arriving at the other destination I learned quite a lot about the job position that was not disclosed (even though inquiry was made) and yet was fairly well known in the area. Had I known I likely would not have accepted the position. Never again.