Car prices have been going for a while, but even by recent standards a December jump in car prices is likely to be an outlier.
"The average new car price paid in December 2020 and the fourth quarter of last year crossed over $40,000 for the first time.," reports Sean Szymkowski from quarterly analysis published recently by Edmunds.
"On average, new car buyers left dealerships (or signed papers from home) having agreed to a car payment of $581 per month at a 4.6% APR over 70 months," adds Szymkowski.
As noted by Szymkowski here and in a previous article, car prices rose steadily throughout 2020 despite the economic downturn. December tends to be a high point for luxury car sales, pushing the month's numbers beyond the recent rate of price growth.
Szymkowski calls on Jessica Caldwell, Edmunds' executive director of insights, to offer some perspective about the economic divide apparent in the sales data. "It might seem at odds with unemployment levels and the harsh financial conditions that so many Americans are finding themselves in right now, but the consumers who are buying new cars during the pandemic are clearly on the other side of the economic divide," Caldwell says in the article.
Thus, "a whole host of buyers" are left out of the market, according to Szymkowski.
Planning for Congestion Relief
The third and final installment of Planetizen's examination of the role of the planning profession in both perpetuating and solving traffic congestion.
Minneapolis Housing Plan a Success—Not for the Reason You Think
Housing advocates praise the city’s move to eliminate single-family zoning by legalizing triplexes on single-family lots, but that isn’t why housing construction is growing.
New White House Housing Initiative Includes Zoning Reform Incentives
The Biden administration this morning released a new program of actions intended to spur housing construction around the United States.
Study: Most of Vancouver Is a ‘15-Minute City’
A large majority of Vancouver residents can access a grocery store in 15 minutes or less by bicycle or on foot.
Urban Design, Transport, and Health
The Lancet medical journal published a series of articles that explore how to evaluate and guide urban planning decisions to create healthy and sustainable cities. Live long and prosper!
Detroit Bike Share Celebrates Five Years
In its five years of operation, Detroit’s MoGo bikeshare has added electric and adaptive bikes to its fleet of more than 600 bikes.
City of Redwood City
City of Rohnert Park
City of Hot Springs
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.