Extreme Commutes Get Extremely Expensive
In general, the farther a home is built from a metropolitan area, the more affordable that home is for a buyer.
The desire for affordable housing helped fuel the real estate markets earlier this decade.
It also helped to add “extreme commuting” into the American lexicon.
An “extreme commute” is an office drive-time of at least 90 minutes and at least 2 million Americans are doing it. Because of rising gas prices, though, extreme commuting is much more expensive than it used to be.
GasBuddy.com says that the average gallon of gas now costs $3.13. That’s up 32% from a year ago and more than double the 2002 level. For Americans with long commutes, this is having a palpable impact on family finances.
It’s important to remember that there is more to the cost of a home than just the purchase price — there’s also the costs after the purchase.
When planning your family budget, be sure to consider everything, all the way down to the commute times.
With gas prices predicted to rise throughout 2008, extreme commuting figures to get more expensive.
