Most Americans STILL hunkered downBy Eric Anders • Nov 1st, 2011 • Category: TRENDS IN RELOCATION
Is the moving industry still stuck in reverse?
Last week the U.S. Census Bureau released their American Community Survey. This new demographic data provides a detailed glimpse into the migration trends in U.S. for the the post-recessionary years of 2008 through 2010.
This latest survey will be of particular interest to anyone in the domestic relocation industry – particularly those in the moving and storage business.
While there are really no winners during a severe meltdown like that experienced during the 'Great Recession', this new information clearly show which geographic areas saw a “before and after” change in their population data after the economy started contracting in 2007.
Many Americans, it appears, are still hunkered down and stayin' put until the economy starts showing signs of improvement with the creation of new jobs.
Of particular interest is how the nation's up-and-coming breadwinners – young adults aged 25-34 – have changed their not only their migration patterns but family structure and personal and professional expectations.
In his analysis of the Census survey result, Young Adults Choose 'Cool Cities' During Recession, William Frey, a demographer for the Brooking Institution, points out that these young people’s destinations differ sharply from the top migrant draws for all ages combined. During a recent interview, Frey characterized them as a 'generation stuck in quicksand”.
If this 'parked and waiting' attitude continues, the current relocation trends could affect once popular metro areas like New York, Los Angeles, San Francisco, and Boston. Each have shown sharp declines in both their young adult and immigrant populations during the last three years.
Cities like Riverside, Phoenix and Atlanta that were quite popular among usually mobile young adults and their families in 2005 though 2007 have since ceded their mobility attraction to popular, “cool” places like Denver, Houston, Dallas, Seattle, Austin, and Washington D.C. after the housing bubble burst and unemployment began skyrocketing in 2008.
Recent comments written in response to a New York Times article, Economy Alters How Americans Are Moving, convey some the expectations and concerns of potential customers, particularly the frustrated young professionals and retiring boomers that the full-service moving industry often caters to.
2008-2010 American Community Survey 3-Year Estimates – U.S. Census Bureau
'Trends in Relocation’ Category – RELO Roundtable
Have questions or need professional assistance with an upcoming moving and storage issue, or help choosing a domestic or international relocation product or service supplier?
FOLLOW US and SUBSCRIBE at: