Saturday, April 5, 2008

Unsold Homes Tie Down Would-Be Transplants.

“Mobility opens up job opportunities… When housing is not an obstacle, more than five million men and women, nearly 4% of the nation’s work force, move annually from one place to another — to a new job after a layoff, or to higher-paying work…

Now, unable to sell their homes… tens of thousands of people… are making the labor force less flexible just as a weakening economy puts pressure on workers to move to wherever companies are still hiring…

Census Bureau: In a booming [housing] market, interstate migration reached 2.2 million people in 2006… In 2007, interstate migration plunged to 1.6 million people.” (NY Times, Apr. 3rd)

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