Yesterday, Elliot posted a story of interest to me. In my own neighborhood, I’ve observed elements of these same demographic activity.
“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.”
Will we soon be reading more stories about the aging of America? Only time will tell…