New home buyers face higher fuel costs from longer commutes
Updated
Updated · The Wall Street Journal · May 4
New home buyers face higher fuel costs from longer commutes
9 articles · Updated · The Wall Street Journal · May 4
Owners of homes built since 2020 average a 30.9-minute one-way drive to work, versus 27.5 minutes for owners of older homes.
The firm said many entry-level developments are built farther from city centres and job hubs because cheaper land makes projects financially viable.
It highlighted Dallas, Phoenix, Tampa, Stockton and Greeley as markets where affordability-driven new construction leaves buyers trading lower mortgages for costlier commutes.
Is the affordable new home a financial illusion, trapping buyers in ever-longer and costlier commutes?
Are cities solving a housing crisis only to create a new crisis of traffic, sprawl, and infrastructure strain?