Newspaper article THE JOURNAL RECORD


Newspaper article THE JOURNAL RECORD


Article excerpt

America Is on The Move Again WASHINGTON - Americans are on the move again, with a record number of people switching to new homes over a year, the Census Bureau reported Wednesday.

Most of the moves were local, aimed at finding better housing or neighborhoods, and the surge may have been a response to falling mortgage interest rates, a bureau study speculated.

A dip in moving in recent years has been attributed to a period of high mortgage rates, and ``it can be argued that the recent upswing in moving is a consequence of delayed residential changes that became economically feasible when interest rates dropped in 1984,'' the report said.

After the decline in moves during the 1970s, rates have climbed back to the high levels of the 1950s and early 1960s, when one person in five moved in a typical year, the bureau said in its study, ``Geographical Mobility.''

Overall, the report said, 46.5 million Americans moved to a new home or apartment between March 1984 and March 1985, the most recent year for which detailed mobility statistics have been compiled.

That was an increase of 7.1 million movers over the year before and the largest total since the bureau first started collecting that information in 1948.

J.C. Penney to Finish Relocation by July DALLAS - J.C. Penney Co. expects to complete its move from New York by July 1, several months ahead of schedule, the retailer said.

Chairman William Howell said he expects about 60 percent of Penney's 2,200 top managers and a smaller percentage of the 1,600 New York-based non-managers to move when headquarters shift to the Dallas suburb of Plano.

``Some will come with some hesitations,'' he said, speaking in the company's new offices in North Dallas. ``Some can't wait to get here.''

Howell said 93 percent of the more than 150 top managers have accepted Dallas assignments and some have already moved. …

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