3 ms·
~$1 trillion of real estate is on the move … here’s why
- Finnucane 9y agoThe article doesn't really make it clear, but is this assuming that cost of transit is the same or less than current options? I mean, I ride my bike to work and my wife walks. Our commutes are short and cost effectively nothing. So for us, the appearance of AVs makes no difference at all. During the Great Housing Bubble, there was the notion of 'drive till you can afford it,' promoting suburban sprawl further and further out from the city center. Until rising gas prices made that a bad option. And if this further erodes funding for public transit, what happens to the folks who can't afford other options?
- gamechangr 9y agoThose are great questions. I definitely think that you are in the minority of having both partners able to commute at zero cost. I bet that's pretty sweet? Does rent/payment cost a bit more than if you were 15 minutes further to work (headed out of town)? I think the point is that proximity to places of employment have created a premium in housing that should lessen if work was able to be completed during a commute. Essentially, valuable real estate that is considered "drive till you afford it" may go up in price substantially.