Embrace Public Transportation…
Sitting in a taxi cab driving home earlier tonight, I thought to myself “The Taxi rates are pretty low here in Korea. How long will this last given the increase in oil prices?” Very specifically, it costs a little less than $2 (U.S.) for a 5-10 minute cab ride and it only cost me $6 to drive across town from the express train station tonight.
The prices for a cab ride will increase, but so will all forms of public transportation. Moreover, drivers are definitely feeling the sting of the enormous increase in gas prices over the past year. As a result, many consumers throughout the world are seeking alternative forms of transportation to work: bicycling, carpooling and even though the prices will increase, public transportation will still be less expensive than filling up a tank of gas on a regular basis to drive to work alone.
So…my long term recommendation for all of you seeking out future housing valuations is to consider properties near public transportation stops and stations. The fixed stations of a subway or light rail will have convenient homes and other forms of housing located around them. Consider them as good deals over the long term. Bus stops as well represent potential good places for housing deals.
While these forms of public transportation can be noisy, I’ll make a bet that the apartments, condos and houses near these places that do filter out the noise better than others and have other great amenities will be great real estate deals in the long term. A real estate valuation thought to consider…