September 10, 2014

When Parking is More Expensive Than Living

What’s approximately 9'x18', is filled with nothing but air, and costs a breezy $1 million? A parking spot in New York City. The New York Times recently reported on a new luxury residential complex that offers premium parking spots…if you have one million dollars to spare after buying the actual condo. The spaces cost more than four times what most Americans pay for a home. We’ve heard of being house poor, but in NYC, it looks like some folks may soon be parking poor. With that same cash, you could reserve a Zipcar for about 100,000 hours (and btw, we include a designated parking spot, gas and insurance). See what else you could buy when you stop throwing money into empty rectangles of pavement in our infographic about the cost of parking.