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The Decline in Geographic Mobility and Implications for the Mortgage Market

Many people believe that we are becoming a more mobile society, and that geographic mobility has contributed to the falling homeownership rate. The truth is that migration has been declining for decades. Raven Molloy, a longtime researcher on this topic, documents the decline in interstate migration using several data sources. The decline is pervasive across all age, demographic, and socioeconomic groups, and Molloy finds no complete explanation for the magnitude of the drop. Sam Khater, using matched public records data, also demonstrates the decline in mobility nationally, by state, and by home value. He then cuts the data by note rate in an attempt to discern how much mobility might slow if interest rates rise.  



  • Sam Khater, deputy chief economist, CoreLogic
  • Raven Molloy, chief, Real Estate Finance Section, Research and Statistics Division, Board of Governors of the Federal Reserve System
event materials 


For inquiries regarding this event, please contact Alison Rincon at [email protected].

Date & Time Wednesday, September 21, 2016
Urban Institute 2100 M Street NW
5th floor
Washington , DC , 20037
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