This study reveals that a new era of residential mobility began in the US following the Great Recession, marked by a significant decline in local mobility rates. This sharp downturn underscores the need to refocus research on local mobility rather than long-distance migration, as emphasized by Coulter et al. (2016). Unlike long-distance movers who are mainly driven by employment, local movers are motivated by housing needs, raising questions about the impact of the post-recession housing crisis on local mobility. Although the analysis does not pinpoint specific causal factors, it highlights the strong roles of diminished housing construction and reduced homeownership transitions, both of which limit the flow of rental vacancies necessary for local mobility. This ‘vacancy shortage’ has effectively suppressed mobility, while demographic shifts, particularly the large Millennial generation reaching prime moving ages, have exacerbated the situation. Increased rental demand combined with limited supply has heightened the ‘friction of competition,’ leading to prolonged search processes, delays, and discouragement among potential movers. Metropolitan areas with higher concentrations of young adults in their late 20s and 30s have seen greater mobility declines. Additionally, the decreasing number of vacancy chains amidst rising demand reduces incentives for turnover within the existing housing stock, creating a cumulative effect that pushes local housing markets toward ‘gridlock,’ where fewer people can find opportunities to move. Recognizing mobility constriction as a significant facet of the broader housing crisis is essential, as it contributes to diminishing housing well-being.

https://www-tandfonline-com.proxy.library.nyu.edu/doi/full/10.1080/02673037.2021.1929860