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Seagulls fly past the skyline of midtown Manhattan as the sun rises behind Hudson Yards and the Empire State Building. Photo: Gary Hershorn/Getty Images

Just 9.8% of Americans moved between 2018 and 2019, per housing data out Wednesday — the lowest percentage since the Census Bureau started keeping track of statistics in 1948, the New York Times first reported.

Why it matters: The data indicates the United States population is "aging, and older people are much less likely to move than younger people. But even younger people are moving less than before," the Times notes.

By the numbers: About 29% of people aged 20 to 24 years old moved between 2005 and 2006. That number is about 20% today, William Frey, a senior demographer at the Brookings Institution told the Times.

The big picture: "When factories would close, workers would move to other parts of the country to find jobs in new ones," the Times writes. "Young people flocked to cities and rapidly growing suburbs, where jobs were plentiful and rent was cheap."

Driving the news: A combination of low-wage jobs and rising rent prices in large cities have contributed to the housing stagnation, the Times notes.

  • Meanwhile, housing affordability has proven to be a stumbling block for older Americans' access to retirement, while those who own homes are more inclined to stay put.
  • There's a growing trend of seniors remaining in their homes instead of seeking senior housing — leaving developers with a glut of empty buildings, per the Wall Street Journal.
  • Frey said the situation is "also a continued effect of the Great Recession. Slowdowns in the housing and job markets and delays in marriage and childbearing pushed their relocation rates down substantially."

Go deeper:

Go deeper

Mike Allen, author of AM
2 hours ago - Politics & Policy

Fauci fires back at Rand Paul for slam on tonight's "Axios on HBO"

Responding to charges by Sen. Rand Paul on Sunday's "Axios on HBO," NIAID director Anthony Fauci told "ABC This Week" that it's "molecularly impossible" for U.S.-funded bat virus research in China to have produced COVID-19.

Why it matters: The issue 0f Wuhan research was reignited on the right last week with a National Institutes of Health letter to Congress disclosing more about the research.

Manchin, Schumer huddle with Biden in Delaware to discuss spending bill

Senate Majority Leader Chuck Schumer (L) and Sen. Joe Manchin (R) at the U.S. Capitol on Nov. 13, 2014. Photo: Win McNamee/Getty Images

Sen. Joe Manchin (D-W.Va.) will meet with President Biden and Senate Majority Leader Charles Schumer (D-N.Y.) on Sunday morning in Delaware as Democrats look to reach an agreement on the massive spending measure.

Driving the news: Democrats are still negotiating what to keep in the bill and how to pay for it, with Biden saying on Thursday that the party does not have the votes to raise the corporate tax rate.

4 hours ago - Technology

Scoop: Facebook exec warns of "more bad headlines"

Illustration: Megan Robinson/Axios

In a post to staffers Saturday obtained by Axios, Facebook VP of global affairs Nick Clegg warned the company that worse coverage could be on the way: “We need to steel ourselves for more bad headlines in the coming days, I’m afraid.”

Catch up quick: Roughly two dozen news outlets had agreed to hold stories based on leaked materials from Facebook whistleblower Frances Haugen for Monday publication — but the embargo fell apart Friday night as participating newsrooms posted a batch of articles ahead of the weekend.