The Real Cost of Detached Housing

Price Tags

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.

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She’s wondering because of this:

macleans

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…

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