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Bundled parking

2016-08-18 20:40:56.075929+00 by Dan Lyke 3 comments

Housing Policy Debate: Hidden Costs and Deadweight Losses: Bundled Parking and Residential Rents in the Metropolitan United States, C. J. Gabbe & Gregory Pierce:

... We find that the cost of garage parking to renter households is approximately $1,700 per year, or an additional 17% of a housing unit’s rent. In addition to the magnitude of this transport cost burden being effectively hidden in housing prices, the lack of rental housing without bundled parking imposes a steep cost on carless renters—commonly the lowest income households—who may be paying for parking that they do not need or want. ...

[ related topics: Real Estate Model Building ]

comments in ascending chronological order (reverse):

#Comment Re: Bundled parking made: 2016-08-19 00:27:52.65472+00 by: TheSHAD0W

This is a case of "damned if you do, damned if you don't". People build apartments with no dedicated parking, renters with cars go for them anyway because cheap, then park their cars on the street, clogging up everything. Cities then regulate apartment buildings and require parking, which raises rents for everyone.

What's the solution? Maybe ban on-street parking entirely, or set time limits so only short-term visitors can park on the street? That's annoying as hell, and then you have to go to the expense of enforcing that...

#Comment Re: Bundled parking made: 2016-08-19 16:26:40.177379+00 by: Larry Burton

Honestly? To me this looks like a problem caused by over analysis. Let's say I live in the city, ten blocks from my job with a pharmacy and a grocery store in the blocks between me and my job. All of this on a bus line with a hospital and medical professional building, housing all of my doctors, two blocks further down on the same bus route. I occasionally take the bus to work if there is inclement weather or I have too much to carry back and forth that day to work. If I need to go somewhere out of walking or biking distance I call Uber. Aren't the sales taxes I pay and my bus fare going to subsidize heavy rail, freeway maintenance that I don't use?

My point is that you can't live in society without subsidizing things that you don't use. Things you do use are subsidized by others in society that don't use those things. And don't get me started on being fair to the lower income people. Nothing is fair for them. That's the problem with being poor and an incentive to move on up.

#Comment Re: Bundled parking made: 2016-08-20 13:31:18.642655+00 by: Dan Lyke

Shadow, I think the solution is to raise on-street parking costs until there's either less use of it, or enough incentive that developers build more parking. The assertion of a lot of economists is that other transportation options become economically viable when you charge for parking.

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