Quiz: Would You Pay $200,000 For A Parking Space?

Here’s a question for all you big city dwellers out there: How far would you go for a parking space? Some people in cities such as NYC, Chicago and Boston have gone as far as paying over $200,000 for a deeded parking space. Since property values in the city are always escalating and homes in popular cities are constantly in demand, people can sell these spaces at these kinds of prices and get away with it. But having your own personal parking spaces isn’t only about the convenience. -Continued: Click “Read More…” below

Posted by Dani

People are stocking up on two or even three of these precious investments so they can rent them to other desperate parkers and make some money on the deal. Parking spaces in NYC go for about the same price per square foot as actual living space. Now, what kind of society holds equal amount of value between a roof over your head and a parking space? The answer is, people are so desperate they’d rather live in their cars in their own personal parking space than in an apartment that’s simply close to the subway. Honestly, wouldn’t it just be simpler to save your $200,000 and just take the bus?

Via: nytimes