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The Great Recession and housing crisis have made a big impact on how many U.S. residents decide to move, according to reports from the U.S. Census Bureau. The U.S. move rate has continued to stay at about 12 percent since 2008. This rate has held steady between 11.5 and 12.5 percent, and about 1 in 9 people moved between 2013 and 2014. That’s an estimated 35.7 million people who migrated over the U.S. during that year. In the 1950s, about 1 in 5 people typically moved in the U.S. within a year.
While move rates remain low, 1 in 10 Americans still want to move, according to the U.S. Census Bureau. Of that 10 percent, only 18 percent of the 11.2 million householders who wanted to move actually did so between 2010 and 2011. Renters had one of the higher desire rates at 16.4 percent, which is double the rate of homeowners. Those ages 16 to 34, households in poor areas, householdes with a disability, and households with children also had a higher desire to move than their counterparts.
A group of bipartisan senators from the U.S. Senate Banking Committee sent a letter to Federal Housing Finance Agency Director Mel Watt urging him to move forward with the development of the Common Securitization Program. According to the letter, the senators feel the CSP should have "an open architecture” that gives access to private industry and does not limit the CSP to be an appendage to Fannie Mae and Freddie Mac. The senators say this will enhance the ability for small and mid-sized lenders to access the secondary mortgage market and facilitate greater competition in this market going forward.
