Vehicle travel in the United States has experienced a resurgence in the last two-and-a-half years, following an unprecedented decade-long per-capita decline in driving. Low gas prices are likely a big reason why; recent increases in incomes and employment as well. But an additional factor has been relatively unexplored: the effect of changes in credit markets on vehicle purchasing and ownership.
Where are Americans making the shift away from driving to work? Crunching newly-released Census data, Yonah Freemark looked at how commute travel is changing in different cities and regions. In general, car commuting in major metro areas declined between 2005 and 2015, but the shift was greater than a couple of percentage points in only a few […]
Never forget this: Those who pay the highest price for the American system of transportation — one that makes owning a personal car practically a mandate — are the poor. We’ve reported before about how the largely unregulated subprime auto lending market has been expanding in recent years, leading some people to wonder if a breakdown in the […]
Here’s an interesting glimpse at car ownership in a cross-section of American and Canadian cities, courtesy of a recent report from the Shared Use Mobility Center. This table comes from SUMC’s analysis of car-share and bike-share [PDF]. We trimmed it to highlight the cars per household across the 27 cities — 25 in America and two in Canada — in […]
Which places put economic opportunity within reach for residents who don’t own cars? There’s a new tool to evaluate housing locations according to the accessibility of jobs via transit and walking. Redfin, the company that runs Walk Score, today released “Opportunity Score,” which ranks millions of addresses across 350 cities based on the number of jobs within a 30-minute walk […]
There have been warning signs about the growth in subprime auto loans for years now. But the issue got some very high-profile attention last week when JP Morgan Chase CEO Jamie Dimon raised concerns that there may be a bubble in the auto lending market. Since the economic recovery began, lending institutions have actually loosened standards for car loans. The auto […]