My client, Center for Neighborhood Technology has been doing ground-breaking work on how location efficiency is a smart thing for home buyers to pay attention to. Their research, Drive til You Qualify, and the Abogo commuting cost tool are essential to the concept of better service for home buyers I call Total Cost of Ownership.
The New York Times covered this location efficiency work today in Factoring in Commuting Costs.
Transportation costs rose faster than incomes in every area over the last decade.
That has added to the financial burden shouldered by moderate-income homeowners…Transportation consumes 30 percent of their income, on average. Add housing costs to that and the combined cost burden rises to 72 percent.
It’s time to wake up and serve better. It’s not that buyers are on the fence, is that they need more information and want to make better choices about where their budget is going to go.