12.27.19 Americans are moving less; Healthcare costs are a major American concern

The Clark Howard Podcast

Clark Howard

Business, Investing, Entrepreneurship

4.6 • 5.2K Ratings

🗓️ 27 December 2019

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

Historically, 1 in 5 Americans move each year. But the Census Bureau finds we are relocating at a much lower rate today, closer to 1 in 10 moving each year. People are staying put, primarily because dual incomes make it more difficult to move. This save people money over time. There's enormous cost in both selling and buying a home - generally 10% in and 10% out. One important exception: It's better for your net worth bottom line to move out of a deteriorating neighborhood. It's worth it to sell and move on because it can take decades for neighborhood home values to recover. The Financial Times of London did a poll concerning American attitudes about healthcare. Premiums, copays and deductibles have gotten huge, so even with coverage, we're exposed to how unbelievably expensive healthcare is in the U.S. The FT survey found healthcare cost is considered the number one economic threat to our nation in many states. Healthcare consumes 20% of the nation's economy. We can not prosper as a nation in global competition with 1 of every 5 dollars of economic output being swiped by healthcare, It's one out of $10 -$12 elsewhere. That gap is devastating to us. We must address this. Hospitals are freaking over new cost disclosure rules. We should have the right to know costs in advance. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:22.6	keeps passionate gardeners in the heart of everything they do. To find out more, head to
0:27.8	Gardina.com-flash-uk.
0:35.8	It's great to have you here on the Clark Howard Show where it's all about you and that wall
0:41.0	of the yours. I want you to learn ideas, so you can keep more of what you make. Coming
0:46.4	up later, something that is no deal at all, what it costs for health care in the United
0:52.7	States, how people are really getting fired up about it in many parts of the country.
0:58.6	I want to tell you what a big concern high cost health care has become. So, speaking of
1:06.3	the U.S., there's new data out from the Census Bureau that finds that we are stuck in concrete,
1:17.5	well, not literally, but that we as Americans are moving at a much lower rate, much, much
1:25.7	lower rate than historical. So, in a typical year, roughly one in five Americans move. That
1:38.2	was till very, very recently. That had been pretty much what it had been for generations.
1:45.9	Today, it's one in 10 Americans move each year. The implications are many in this situation.
1:56.2	I mean, it's not good for people who work in the real estate industry, agents, people who
2:03.9	work in real estate closings and all that. There's just not the steady stream of buyers and sellers
2:12.2	that we've had historically because people are staying put. One of the primary reasons is that
2:20.8	two-income households, there's not the disparity as it used to be between the two incomes in a household.
2:28.7	And so, it becomes a real hard decision to move for a better job opportunity for one,
2:37.7	because it may be a big cost or consequence for the other, who may not be able to duplicate
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