Americans are moving at record-low rates, with only 7.8% relocating in 2023, the lowest since 1948. Families are stuck in homes that are too small or no longer suitable due to high mortgage rates, limited inventory, and skyrocketing prices. Those who have low-rate mortgages are reluctant to sell.
Workers are less likely to switch jobs or relocate for work than in previous decades. Recent grads face long, difficult job searches, often turning down offers due to low pay or lack of relocation support. Many are choosing to stay local, even if it means settling for less.
Employees with low mortgage rates, stock options, or bonus plans are staying put to avoid losing financial perks. Dual-income households and family obligations further reduce mobility.
Gonna take my 3% mortgage to my grave
I keep getting cash offers to refinance as they don’t like my 3.7%.
2.75 mothafucka!
I’m in the process of moving, and the almost 7% rates on mortgages suck. But if you gotta move, you gotta move, you know?
that’s what mortgage meant originally, from the old french mort gage or death pledge, a payment that you made until it’s satisfied or you die
Same. Never gonna give you up, 1.875%!
I was a little kid when I realized it’s all bullshit. It sucks that I know I can’t just tell people to “grow up” because I know it has nothing to do with age.
… what?
The entire game. The whole system.
Grow up ;)
I suppose some of these families could sell their younger children to Trump to make room in their houses
Why is the inventory limited, Mr. Journal?
Has Trump “[Kept] America Great”?
Edit: I’m sorry I thought I could be funny but just spat out a Democratic party Twitter slogan.
Fuck it. Let’s go back to subsistance farming, this capitalist economy shit sucks.
Mortgage rates are not the issue, is the quarter to half million they want for a bungalow that was built in the 50s. Houses are unaffordable because the housing market is the highest its ever been. People treating houses as investments isn’t helping the problem. 1/3 of all homes in my city are rentals.
mean while i continue to stack my money in the bank.
