Interesting statistic: Americans are apparently staying put.

[NotUrsula]

This from a Wall Street Journal article today about which US cities most attract the 18-29 demographic:

"The recession has brought migration to a grinding halt: Fewer people moved across state lines in 2008 than at any time since 1950, when the population was smaller by half, says William Frey, a senior fellow at the Brookings Institution, a nonprofit Washington research organization."]

I find that very interesting, if it is accurate. During the Great Depression and other recessions since, people tended to pick up and move to try to find work. If he's right, suddenly that tactic has largely been abandoned, at least in terms of changing states.

If this is true, I think the key must be the housing bubble -- instead of renting as they did in previous generations, more people bought homes, and now many of them are stuck in a home that they cannot get out of.

 

[Lisa loves Pooh]

I agree somewhat with your hypothesis.

I think another tie in would be lack of available cash (Americans I believe had higher savings rates and thus rainy day funds to fall back on) and depending on their financial status, lack of available credit.

I know someone who is an engineer and was laid off and for the time being--he took a job over in Tampa and will live over there for the week and come home on weekends. For the time being, uprooting the family isn't an option and the reason he took a job in the state as opposed to out of the state.

 

[yoopermom]

I believe this, because I'm the "professional" in the family (librarian and teacher), am on layoff, and can't afford to move my family so I can get a job in my field. The house we live in is paid off and we wouldn't get enough in profit to sell it, DH has a lowpaying job with insurance (thank God), so we're not starving. I do miss working in my field, though, and hope to be able to in the future....

Terri

 

[marlynnp]

18-29 year olds?
Most of them have still been living at home with their parents for years.