Sunday, July 29, 2018

Opportunity Costs of Parking is unacceptable

These are American numbers by Dr. Richard Florida. He is the guy who brought us the idea that creative cities are tolerant of gays. I am not aware if there are any equivalent numbers for Singapore but can easily imagine that year after year of economic growth can only raise the numbers towards the sky. Economically we will eventually pay too much for parking on real estate that is simply too valuable for cars. Society is subsidizing those who drive.

The long term future for car ownership is bleak. It will be a shared asset so that we can release a phenomenal amount of land by taking them away from parking.

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