Transportation costs affect homebuying decisions: report
Efficient, low-cost transportation services like commuter rail have a big impact on the full costs of home location options, according to new research from RBC and the Pembina Institute.
Location Matters: Factoring location costs into homebuying decisions illustrates that seemingly cheaper homes located farther from the urban centres can actually cost more when transportation and commuting costs are factored in.
“This report underlines that there is a need to make smart land use planning decisions, in the Greater Toronto Area and elsewhere, that include access to efficient transportation services like commuter rail,” said Michael Gullo, Director of Policy, Economic and Environmental Affairs with the Railway Association of Canada.
“Commuter rail has numerous benefits including improving an individual’s quality of life by minimizing transit time and freeing up time to be more productive, as well as reducing emissions in local and regional airsheds and improving public health by taking more cars off the road.”
Railway Association of Canada
About the Railway Association of Canada
The Railway Association of Canada (RAC) represents more than 50 freight and passenger railway companies that move 75 million people and $250 billion worth of goods in Canada each year. As the voice of Canada’s railway industry, RAC advocates on behalf of its members and associate members to ensure that the rail sector remains globally competitive, sustainable, and most importantly, safe. Learn more at www.railcan.ca. Follow us on Twitter:@RailCanada or Facebook: www.facebook.com/RailCanada.