Autos & Foreclosures

This article looks at the cost of transportation and how significant costs (car payments, insurance) can affect the ability of a household to withstand the mortgage crisis.

“The mortgage crisis was more intense in less location-efficient areas,” Bernstein said at a panel discussion on regional transportation planning for equity at the National Building Museum Monday. “I’m not saying car ownership caused it. But a precipitating factor was a lack of flexibility to tinker with your household budget because you had fixed costs for transportation.”