Penny Coupland has a question for you excellently informed people:
I wonder if there’s anyone on your blog who can comment on the whole (local, BC, global) economics/personal economics of living downtown without a car versus in the ‘burbs and driving for everything. Maybe your blog commenters can provide some up-to-date numbers.
You have some excellently informed people on the blog – really enjoyed the stuff on the economics of home building in Vancouver.
She’s wondering because of this:
Brookfield RPS crunched the data for Maclean’s, looking at how much prices for a detached home decline the farther you get from downtown. … With just one exception, prices dropped steadily the farther you get from each city’s central business district, although the rate of depreciation varies widely.
In Vancouver, where average prices within a 10-minute drive of downtown top the list at $1.5 million, real estate values fall by an average of $20,600 per minute, as one speeds over a bridge or two into surrounding communities.
(Click on the image to the right to explore interactive maps showing how house prices change for each minute you drive away from downtown in Vancouver ….)