How Decreasing Migration Affects The Mortgage Market

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Posted To: MND NewsWire

Americans are staying put, both in their homes and in their jobs. The two appear to be related but which is the driving force? In a recent Urban Institute blog researcher Bhargavi Ganesh points to the decreasing incidence of state-to-state migration, a trend that started in 1990 . Her cites research from Raven Molloy of the Federal Reserve that shows interstate movers dropped from nearly 3 percent of the population in the 1980s to less than 1.5 percent in the five years that ended in 2015. This has happened “despite technological advances, increased immigration, and higher education levels, all factors one might expect to boost migration.” Urban Institute researchers say it appears that the decreased mobility is related to the labor market rather than demographic or socioeconomic changes. Among…(read more)

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