Americans make fewest moves since 1962


According to the United States Census Bureau, Americans have all but stopped moving. The New York Timesreports that "The bureau found that the number of people who changed residences declined to 35.2 million from March 2007 to March 2008, the lowest number since 1962, when the nation had 120 million fewer people."

The extent of the decline is somewhat shocking, but the drivers behind it are obvious: People are having trouble selling their existing homes and having trouble getting financing for new ones: If you're underwater on your current home, selling it won't leave you with any cash for a down payment on a new one.