Why rent is so expensive in cities: Parking spaces

underground parking

Underground parking is extremely expensive to build.

Many factors contribute to drive up the price of rents, but parking is among the most significant, according to University of California Los Angeles professor and renowned parking guru Donald Shoup. During the CityLab 2014 conference in Los Angeles last week BuzzFeed News sat down with Shoup to talk about how parking makes housing more expensive. His point: “It’s unfair to have cities where parking is free for cars and housing is expensive for people.”

 

 

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