Long-Distance Migration Is on the Rise
The percentage of consumers who moved more than 1,000 miles has nearly doubled in the last year, according to a survey conducted for Relocation.com, an online resource for moving services.
More than 70 percent of the people on the move relocated farther than 1,000 miles in the 12 months ending in March 2009. In the previous year, only 36 percent went that far, Relocation.com reported.
Of those who moved more than 1,000 miles, 60 percent said the move was for financial reasons such as a lost job. Nearly 41 percent of long-distance movers indicated that the recession and the housing crisis influenced their decision to move.
Only 3 percent of those surveyed indicated that they had lost a home to foreclosure, while 13 percent reported that they had lost their jobs.
“We are seeing more out-of-state moves from traditionally popular destinations, likely because of high foreclosure rates and diminished property values,” says Sharon Asher, CEO of Relocation.com.
Source: Relocation.com (05/05/2009)