“Given the opportunity of remote work, young Americans are showing they want to move to cheaper, larger housing” — Paul Ebeling
A VirusCasedemic migration is underway for young adults 18 to 31 anni. A Bankrate.com survey that found 31% of people in that age group relocated either permanently or for an extended frame during the Chaos. That is compared with 16% or 23-M adults overall.
Gen Z, who range from ages 18 to 24 were most likely to pick up stakes, with 32% relocating, followed by millennials, ages 25 to 40 at 26%.
Members of Gen X, ages 41 to 56, and baby boomers, ages 57 to 75 were least likely to relocate, with 10% and 5% having made moves, respectively.
The Key reason people relocated was to be closer to friends and family, which was cited by 31% of respondents. That was followed by more affordable living, with 27%, or relocating for a job, 21%.
Others were motivated by opportunities for more space, 18%; different climates, 17%; or the ability to work from anywhere, 17%.
While many of the respondents left cities, they did not go far.
“It seems like people are just leaving the densest neighborhoods to go to places where they may be able to get a bit more bang for their Buck,” said, a mortgage and real estate reporter at Bankrate.
Bankrate’s research came from an online survey conducted in February that included 5,158 adults. They also analyzed US Postal Service change of address requests from 1 January through 31 December 2020.
Have a healthy day, Keep the Faith!