Boston Condos for Sale and Apartments for Rent
How will driverless cars impact the Boston condo market?
Over at Economix, economist Casey Mulligan explores a likely effect of both driverless cars and the drone delivery services that Amazon is experimenting with: what impact will it have on property values in urban centers. Here’s Mulligan’s theory:
As technology helps with moving goods and people more cheaply, it might seem that urban real estate would give up some of its price premium real estate because distance becomes less of an obstacle to economic transactions. Wouldn’t a driverless car cause some workers to sell their luxury condos and apartments and commute to their jobs from more spacious homes in the suburbs or even rural areas?
