Americans are staying put as the recession takes it’s toll on the economy. As unemployment rises, and housing prices fall, more people are making the decision to stay in one place. The effect on rental companies is a lot fewer rentals of moving trucks and vans.
Relocation is at it’s lowest level since WWII. A recent study found that only 12% of Americans moved in the last two years compared to 14% earlier this decade, 17% in the ’90s, and 20% in the ’50s and ’60s.
There are several factors affecting why many are choosing not to move. It is more risky now for a would-be-home buyer to get financing, and would-be home seller now has a harder time getting a good price for their home. Unemployment rates are high, and where there were once plentiful jobs, now it is difficult to find work. In addition the average age of Americans has risen, and it it typically younger people who move around the country, not the older generation.
The free-wheeling 20 somethings who generally move the most, are having more difficulties finding employment, and many are having to move back in with their families to weather this economic storm.
As fewer people are moving, Rental Companies such as U-Haul, and Budget Truck Rental, are seeing a decrease in rentals of moving trucks, vans, trailers, and moving equipment.
Despite all this talk of people staying put, are you one of the ones who is making a move? Find everything you need to rent for your move on Rentcharlie.com. Rentcharlie’s large, North American wide search engine will connect you with Moving Companies renting moving trucks, trailers, vans, and moving equipment in the United States and Canada.