Oh No! Moving at a All Time Low?
Census Bureau reports that tough economic times means people aren’t moving.
By Chad Bennett for 123Movers.com
The recession has taken a major toll on how citizens are spending their money. The market has gone through the trenches over the years leaving consumers hesitant to make major purchases and decisions including the option to move interstate and intrastate. The economic crisis has been a ricochet of the declining job market, rise in interest rates, and the decrease of those citizens moving. Of course these aren’t the only reasons but are considered by many to be major factors for the decline in those choosing to move.
When bad times hit, everyone typically chooses to stay put. Every dollar matters and each step is volatile to the way we live life. The toughest thing to do in an economic struggle is to keep the same lifestyle you’ve had for years. So many are attempting to do that by holding on to every dollar they are capable of. That thought of moving to a bigger house or closer to the city has changed for many. Citizens are now hesitant and more likely to keep that money out of fret. At this point, no one is certain when the economy will pick back up.
U.S. Census Bureau recently reported that the percentage of people who changed residences between 2010 and 2011 was 11.6 percent, the lowest recorded rate since the Census Bureau began collecting statistics on the movement of people in the United States in 1948.
The most common interstate moves in 2010 were:
– California to Texas (68,959 movers)
– New York to Florida (55,011)
– Florida to Georgia (49,901)
– California to Arizona (47,164)
– New Jersey to Pennsylvania (42,456)
– New York to New Jersey (41,374)
– California to Washington (39,468)
– Texas to California (36,582)
– Georgia to Florida (35,615)
– California to Nevada (35,472)
This information comes from Geographical Mobility: 2011 collection of national- and regional-level tables from the Current Population Survey Annual Social and Economic Supplement.
If these numbers aren’t concerning, they should be. The drop in Americans moving is only a heat check on the economic climate of today. Movers are no longer looking to large corporate movers to handle their move. Now movers are handling their own moves are getting more independent companies to do it. It’s no longer about finding the most respected moving company, it’s about finding the cheapest moving company which can bring on a completely different issue.