Every time I bring my car in for service, I’m reminded of how expensive it is to maintain one. Between car payments, insurance, gas, parking in the city and service, owning a car eats into a lot of disposable income.
So for cities where the residents don’t need a car to get around, there’s potentially a lot of additional income that can get placed in other sectors of the economy.
Richard Florida, and others, have argued that we’ve historically been overspending on housing and transportation, and that it restricts capital from flowing into other, more productive, areas of the economy.
I’d be curious to see a study that compares transportation spending versus other local economic measures. How would a driving city compare to a public transit or biking city?