Want Better Digs? Ditch Your Car

Friday’s Business Insider published this article, which includes the startling revelation that people who get rid of their cars can afford much more expensive houses.

“For every car you do not own, you save $8,000 to $10,000 a year,” Maureen McAvey, the conference’s keynote speaker, noted. “That can often increase the mortgage you can afford by $100,000.”

The article generally is reporting on the trend in housing toward tight-knit neighborhoods that allow people to travel on foot or via public transportation. But the idea that over time people could be investing in their housing rather than throwing money away on automobiles is both fascinating and seemingly under-explored. It’s just another reason I look forward to the day when I no longer have to drive.


Leave a comment

Filed under commuting, driving, economics

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s