House Hunting? Run the Numbers Before Running to the ‘Burbs
As housing (un)affordability continues to plague Canada’s big cities, some would-be city dwellers are looking to the suburbs to meet the budget. Using a hypothetical Toronto couple as its basis, number-crunching suggests little long-term savings.
“There’s no refuge in the suburbs from Canada’s housing affordability problem,” writes Rob Carrick.
“You can buy a house for less money in the suburbs than you can in a big city,” he continues, “but the cost of commuting may kill almost all your savings."
"No question, you’ll find house prices are cheaper outside big cities. Toronto Real Estate Board numbers suggest a spread of almost $250,000 between city homes and those in the neighbouring suburbs. But as shown in a spreadsheet created by [David Hughes with the Mortgage Group Ontario Inc.], suburban living loses its cost advantage if you have two adults commuting by car each day. Add the effect of stress and time spent in gridlock, and suburbia looks even more costly."
Full Story:
Published on Tuesday, October 8, 2013 in
- A Famous Former Planning Director and the 'War on Cars'
- The Ancient Roots of New Urbanism
- Nice Try, Sharrows
- Sued for Gentrification
- The Uses Of Urban Theory
- Op-Ed: Downtown Denver's Homogenous Renaissance
- Harvard Housing Report: Housing Market Still Short-Changing Renters, Young Americans
- Light Rail Recommended for the San Fernando Valley
- Friday Funny: A New Hand Signal for Begging Drivers Not to Kill
- San Francisco's Next Mayor a Self-Described 'Pro-Housing' Politician With Support From YIMBYs
- Tampa to Orlando High Speed Rail Back on the Table
- Studies: Drivers Far More Distracted Than Walkers
- Did the Supreme Court End the 'Retail Apocalypse'?
- Maryland Highway Plan Would Destroy Affordable Housing, Displace Low-Income Residents
- Paris Gets What it Wanted: Fewer Cars in the City
- State Politics Threaten New York City Speed Camera Programs, Protests Ensue
- Most Rural Counties Losing Population
- The 'Shale Crescent,' Also Dubbed the 'Plastic Belt,' Removes the Rust
- Proposed Tower Would Redefine Height on the West Coast
- All Systems Car2Go for Pilot Project in Chicago
