John Norquist on CNN: Location Efficiency Drives Home Market

CNU President John Norquist speaks with Gerri Willis of CNN about how the US home market is re-pricing itself around the idea of location efficiency and how much or how little driving is required in the neighborhoods where people purchase homes and condos. WIth gas prices soaring, it's more important than ever to factor in expected transportation costs when making a real estate purchase. Using examples from the Atlanta area to show how the design of the exurbs leads to extreme household driving (and how traditional neighborhoods in more inner locations results in deep cuts in household driving), Norquist says sprawl is becoming the "number-one risk factor" in the housing market. And average people should benefit from this knowledge, just like major real estate investors.

Category:

News & Politics

Tags:

• new
• urbanism
• housing
• market
• sprawl
• transportation
• costs