Christopher Leinberger, professor of practice in urban planning, appeared on American Public Media's "Marketplace" speaking about how homes located close to public transit routes are rising in value, while homes in car-dependent suburbs are losing value.
"Within walking distance of transit," said Leinberger, "we're seeing anywhere from a 40 to 200 percent price premium. The market is willing to pay 40 percent more to three times more [for real estate there]."
As more and more Americans are choosing to live near transit, the value of suburb homes – or, as Leinberger calls them, "car-dependent" homes – has plummeted (a whopping 60 percent since the year 2000).
Even in more established suburbs, homes have lost value in the last several years. And with gas prices rising and families getting smaller, Leinberger foresees this loss of value a trend that will likely continue.