Monday, June 23, 2008

A Return to Urban...

Young families might settle for tighter quarters closer to the city instead of the larger, less expensive homes with long commutes. For suburban professionals, a more expensive condo in downtown Boston might make financial sense. And baby boomers might consider giving up the family home because higher gas prices eat into their retirement savings.

Daniel Gustafson and his partner, Paula Parker, are buying a home in Milton that abuts the Red Line's Mattapan trolley. Gustafson realized he could ride the subway to work at the Massachusetts Institute of Technology in Cambridge rather than drive his van, as he has done for years. That sold him. He calculated this would save about $200 a month in gas, after subtracting the cost of a subway pass.
Read the entire story here.