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Old Posted Jan 3, 2018, 5:34 AM
emathias emathias is offline
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Join Date: Sep 2007
Location: River North, Chicago, Illinois
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To address a side-issue mentioned in the article:

Why don't people move? I vote for lack of savings. Prior to 1980, people were consistently saving 10% or more of their income. After 1980 that number started to decline and now it's typically closer to 5%. Over a 5-year period for someone earning $25,000/year that's about a $6,250 difference and could easily mean the difference between feeling confident about being able to finance their own move and feeling trapped.

Couple that with the fact that the people most likely to benefit from such a move today, people with a college degree, are far more likely to have significant education loan payments further dampening their confidence in their ability to self-finance a move.
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