Abstract
Housing shortages following the global financial crisis have been accompanied by a new, sharp downturn in rates of residential mobility, largely among renters. The Great Recession precipitated major, lingering housing disruptions, with local mobility declining by one-third in the US from 2010 to 2019. Slow construction despite employment recovery and burgeoning numbers of young Millennials led to intensified competition for vacancies. That ‘friction of competition’ is posited to delay moves and reduce overall mobility rates. Questions investigated are how urban area declines in renter mobility are related to slower housing construction than job growth, fewer rental vacancy chains released by home buyers, concentrations of young adults, and affordability. Analysis is with the American Community Survey for the 100 largest metropolitan areas in the US Mobility constriction is a new indicator of declining housing opportunity. Similar outcomes bear investigation in other cities and nations impacted by housing shortages and the shift to renting.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
