Homebuyers Are Anxious To Ditch Their Cars And Move To Big Cities

West Village, cab, shopping, NYC, New York City, Manhattan

Photo: Flickr / joseph a

Urban real estate is having a moment, and it’ll only get bigger thanks to rising gas prices, according to a recent conference held by the Urban Land Institute of North Texas. Cranky from their long commutes and getting gouged at the pump, prospective homebuyers are anxious to hop aboard public transit, move closer to weekend nightlife and most of all, ditch their gas-guzzling cars. 

“For every car you do not own, you save $8,000 to $10,000 a year,” Maureen McAvey, the conference’s keynote speaker, noted. “That can often increase the mortgage you can afford by $100,000.”

As we’ve reported, public transportation ridership is up 2.3 per cent, due to gas prices and Americans returning to work.

However, if riding the MTA is out of the question, there are still ways to maximise your fuel and your cash. Check out this list of 9 ways to combat gas prices, and the best rewards cards on the market right now.  

(via HousingWire.com)

Now see the best credit cards for road warriors > 

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