"In the 1950s, 20% of households in a county moved each year. Today 9% do." This one point about the decreased mobility of Americans may explain why The Economist seems to have made 2020 thus far its "Year of Residential Real Estate." What’s evident is the publication sees real economic and societal costs from the ossification of “world’s biggest asset class,” abetted by government actions that have rendered an obsession for home ownership its “biggest economic policy mistake.”
The problem is that the US has some of the highest real estate commissions in the world, and antiquated "rules
on commissions and data-sharing have so far kept fees higher than in other
rich countries."
Thus begins the newspaper's the latest piece around real estate, about how "technology is poised to upend America's property market."
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