Modest Moving

Just 9.8% of Americans changed their residence between 2018 and 2019, the lowest percentage since such record keeping began in 1947/48! This new low is occurring amidst the weakest population growth on record, limited immigration and an aging society. Most troubling, however, just 20% of those between the ages of 18-34 (Millennials) moved this year, down from 29% as recently as 2005/06. Reduced mobility reduces economic opportunities and GDP growth.