If people got rid of their extra cars, they could afford an extra house
The average American family owns 2.28 cars, and even in genuinely car-dependent areas they could probably get away with one. How much does that excess auto capacity cost? Enough that if everyone ditched their unnecessary vehicles, they’d save an average of $186,425.03 over 30 years. In a lot of places, that’s enough to buy another house. At very least, it’s more than enough to move to a more expensive area that’s more transit-accessible or requires a shorter commute.
Blogger Alex Banchero did the math, and posted his results at Sustainable Cities Collective:
How Much Your Car Really Costs You and The Quality of Your Living, Sustainable Cities Collective.