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Expand chart
Data: U.S. Census Bureau; Chart: Harry Stevens/Axios

The U.S. mobility rate dropped again to a new low in 2017, with just 10.1% of Americans moving homes, according to new data from the Census Bureau.

Why it matters: Economic opportunity isn't enough to get people moving anymore. And less mobility could mean the wealthy areas of the U.S. continue to accumulate wealth, while the poorer areas will remain poor because people are less likely to move for better jobs and companies are less likely to move for cheaper labor.

"It's surprising because we have kind of a booming economy, and it's a time you would think mobility would start picking up."
— William Frey, demographer for the Brookings Institution

The big picture: Mobility rates have been falling more or less steadily since the 1980s. The trend can be explained partly by the aging U.S. population, since older people tend to move around less, Lawrence Yun, chief economist and senior vice president of research at the National Association of Realtors, told Axios.The surprise, he said, is that mobility trends have continued to fall over the past few years, given the recovering and even booming economy.

  • The biggest decline has been in the share of Americans moving within the same county, falling by 2.4 percentage points since 2005. However, it remains the most common kind of move.
  • Millennials could also be playing a role in the more recent downturns, according to Frey. 25-34 year olds are far more likely than past generations to live with their parents and less likely to own homes or move around. The decline in mobility rates has occurred across all age groups, however.
  • Geographical trends have remained the same, with high migration toward the Sun Belt and more immigrants leaving than arriving in the Northeast.

The impact:

  • The housing sector suffers most from the falling mobility, Yun said, as there are far fewer home sales when people aren't moving.
  • It could also hurt infrastructure, since local governments could have less incentive to improve it if people aren't moving away to areas with better economic opportunity. "If there's greater mobility, there would be more competition," Yun said.

The bottom line: "Three years ago, I thought it would be a low point and I thought we would turn the corner," Yun said. We haven't — and it's clear that we don't know all the reasons yet.

Go deeper

Updated 17 mins ago - Politics & Policy

British national named in Colleyville synagogue standoff

A law enforcement vehicle sits near the Congregation Beth Israel synagogue on Jan. 16. Photo: Brandon Bell/Getty Images

British national Malik Faisal Akram took four people hostage at a Texas synagogue outside Fort Worth on Saturday, the FBI said in a statement.

State of play: Authorities had initially declined to release the name of the 44-year-old suspect or identify the hostages, all adults, though police chief Michael Miller confirmed that one of those held was Rabbi Charlie Cytron-Walker, who leads the congregation.

Updated 29 mins ago - Politics & Policy

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Illustration: Brendan Lynch/Axios

  1. Health: Concerns grow over CDC's isolation guidelines — Experts warn of more COVID-19 variants after Omicron — WHO recommends 2 new treatments — What "mild" really means when it comes to Omicron — Deaths are climbing as cases skyrocket.
  2. Vaccines: America's vaccination drive runs out of gas— Puerto Rico expands booster shot requirements— Supreme Court blocks Biden's vaccine mandate for large employers.
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  4. Economy: America's labor shortage is bigger than the pandemic— — CDC COVID guidance for cruise ships to be optional starting Saturday — The cost of testing.
  5. States: West Virginia governor feeling "extremely unwell" after positive test — Youngkin ends mandates for masks in schools and COVID vaccinations for state workers — America struggles to keep schools open
  6. World: Beijing reports first local Omicron case weeks before Winter Olympics — Teachers in France stage mass walkout over COVID protocols.
  7. Variant tracker
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Novak Djokovic loses Australian visa appeal

Novak Djokovic of Serbia plays a forehand during a practice session ahead of the 2022 Australian Open at Melbourne Park on January 14, 2022. Photo: Daniel Pockett/Getty Images

Tennis star Novak Djokovic left Australia on Sunday evening, facing a three-year visa ban after an appeals court in the country revoked his visa.

Driving the news: Djokovic will not be able to defend his Australian Open title when the tournament starts in Melbourne. The World No. 1 is looking to break a three-way tie with Roger Federer and Rafael Nadal for most Grand Slam men's singles titles.