(AURN NEWS) — A new report from Bank of America suggests the Trump-era economy is showing further signs of strain. According to the bank’s internal analysis, domestic migration within the U.S. dropped significantly during the second quarter — with no clear rebound in sight.
Relocations are now down 20%, lower than they were before the pandemic. Bank of America points to several roadblocks, including weaker job growth, a shortage of available homes and mortgage rates that remain out of reach for many buyers.
Texas still ranks high as a destination, but the Midwest has seen the biggest gains. Indianapolis and Columbus topped the list of fast-growing metro areas last quarter, followed by Denver, Cleveland, Austin and San Antonio.
Affordability, though, remains a sticking point — especially in larger cities. In San Jose, San Diego and Los Angeles, typical mortgage payments now take up more than 30% of a household’s income. That is well above what many financial experts consider manageable.
Bank of America’s findings reflect a housing market under pressure — squeezed by cost, limited options and growing uncertainty about what comes next.
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