The Great Recession is not responsible for the decrease in mobility, which has long been on the decline. Studies show that the drop in people relocated from one area to another also has little to do with sociology, as the trend is consistent across age brackets, ethnic and racial groups, educational status, and marital status. Researchers also have not been able to link the decline in mobility to wages and home prices. Some argue that people move less often because they do their homework beforehand and are less likely to make mistakes when relocating and that there are fewer employment-related incentives to relocating given that industrial composition among cities is increasingly more homogenous. Regardless of the reason, the residential real estate market will be hampered by this seemingly permanent reduction in mobility. The long-term outlook for property agents may be challenging, as lower mobility translates into fewer buyers and sellers. | Read More