Richard Florida writes in The Atlantic about “The Great Car Reset,” based largely on some good data from Nate Silver (which needs an update) and an Advertising Age article. From the Atlantic post:
“Lasting prosperity requires investment in a new and more efficient economic system. We’ll never get there if we continue to spend every last penny on houses, cars, and energy.”
In dense urban areas like where I live, a car is a burden, not a convenience. Yes, there are a lot of places where it’d be very hard to live without one, but this is an interesting trend nevertheless… and the conclusions seem sound.
Certain things just cost more as a percentage of income than they did in previous generations, so (in the absence of some kind of income reform) people are slowly changing their behavior.