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Fewer Americans moving as housing market stalls

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Fewer Americans relocated in 2008 than in any year since 1962, according to Census Bureau data released today. The rate at which people moved fell to 11.9 percent in 2008 from 13.2 percent in 2007. The most recent high was 20.2 percent between 1984 and 1985. The Census Bureau has been measuring relocations for about 60 years. The declines in the housing and job markets have contributed to the decline in mobility, but William Frey, a demographer with the Brookings Institute, said he thinks mobility may increase as foreclosures continue, since more families will be forced to rent or move in with relatives.