Lending The Ticker

The growing reason people move

Hint: It's not family or friends

Spring House

Family, a job and friends have always been a reason to relocate, but one reason is starting to take up a larger portion of the pie: housing affordability. Per The NewYork Times

Rising rents and the inabiilty to secure a mortgage has started to push people inland, the article explained. 

But of those who moved more than 500 miles, the share who said they were chiefly motivated by housing has risen to 18 percent in 2014, from 8 percent in 2007, the earliest year such data is available, according to the Census Bureau. The desire for a new, better or cheaper home and the opportunity to buy instead of rent were among the housing-related reasons people cited.

Source: NYT

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