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Americans are on the move again; pulling up stakes and seeking out new locations as the economy slowly recovers.
Census data analyzed last month by USA Today found U.S. “domestic migration” was at its highest level in five years – with close to 17 million people moving between counties in 2012. Long-distance moving is also on the the rise, with interstate moves up nearly five percent compared to 2010.
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Kenneth Johnson, a demographer at the University of New Hampshire told the newspaper the recession forced many people to stay put, as they waited for jobs to open up and home values to rise. And while the new figures may not be overwhelming, he says, it shows “at least a thawing” in the nation's financial landscape.
That data appears to be backed up by stats from the moving and storage industry. A survey earlier this year b y Mayflower found the number of residential moves were up nearly 19 percent between January and April – during what are, historically, the slowest months for the moving industry – compared to that time period in 2012.
And last week Amerco (NASDAQ: UHAL), the parent company of U-Haul, reported second quarter net earnings of $138 million, or $7.06 per share, compared with $109.4 million, or $5.61 per share, during the second quarter of 2012.
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Amerco also saw rental revenues from its self-moving equipment rise 11 percent, an increase of $60.6 million, for the second quarter of fiscal 2014, compared to that same time period for fiscal 2013. Self-storage revenues also increased – with the company adding about 2.2 million net rentable square feet to its portfolio.Not all the figures have been uniformly rosy, however. The
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.