Community | August 17, 2009 | 43 comments

What a $300,000 parking space means for the rest of us « The Quotidian

source: http://thequotidian.org/2009/06/15/300-thousand-dollar-parking-space/

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http://thequotidian.org/2009/06/15/300-thousand-dollar-parking-space/

Recently, a parking space in Boston was purchased for $300,000. What implications does this sale have on our transportation future?
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43 comments // What a $300,000 parking space means for the rest of us « The Quotidian

  • UrbanMechanic
    • 0
      UrbanMechanic  
    • Image

    • Well, parking in so many places across the country is mistakenly thought of as free. It isn't. Land, even in the outermost suburbs, costs money. Asphalt, concrete cost money. Donald Shoup out of UCLA (http://shoup.bol.ucla.edu/) has researched and written extensively on the true costs of parking. One figure he points out is that the average (non-structured/i.e. surface parking lot) actually has a cost of at least $1,000 per year in the United States. In total that amounts to an $85 billion dollar subsidy for parking. Though it's just part of the real total costs, that's no chump change.

      Of course, despite the proverbial complaint by every motorist that parking is never abundant enough, huge, and I mean huge, percentages of it is unoccupied for the super-majority of the time...

      ...both daily, and annually.

      In Boston, where the city is somewhat dense and has a decent variety of transportation choices, higher real estate values have more than eliminated the idea providing tons of cheap, free parking. That said, it's still under-priced; except maybe the choice space reported on here.

    • 3 years ago
  • deadpool
    • 0
      deadpool  

    • It's things like these that drive social classes to war, a news article that shows a ludicrous expense, and we rally that we should raise taxes for the wealthy.

      Why? To stop people from making huge purchases? So that we can feel better, that some asshole didn't pay an average of 6-7 years salary for a parking space?

      Do some of you not realize that this purchase is not any way tax free?

      I hate that a parking space in my hometown, or anywhere in the world is more expensive than the car parked there, but it's the government that needs to be changed, not more crippling taxes.

    • 3 years ago
  • krispychicken
    • 0
      krispychicken  

    • This is absurd! Unemployment rates are up, people are being evicted from their homes each day and this guy spends $300 000 on a parking space?! That's just rude.

    • 3 years ago
  • LarzNero
    • 0
      LarzNero  

    • i only skimmed the article, but i didn't see anyone's name. i wish they had published it. who is the jackass who paid this price?

    • 3 years ago
  • Karmacowboy
    • 0
      Karmacowboy  

    • I figure if you put value on dirt and value on paper... it doesn't really make any less sense to trade one for the other in any amount. lol

    • 3 years ago
  • hayckuh
    • 0
      hayckuh  

    • It is his money and if he wants to spend it on a pretty ugly parking space, he can go right ahead. But damn...I would play basketball on that space every day.

    • 3 years ago
  • mattkwooten
    • 0
      mattkwooten  

    • hey, it is nobodies bussiness how much this guy spent on the space. HE earned his mon ey, he can spend it however he wants. YOU PEOPLE :(
      think for just one second if a person has 3hundred thousand to drop on a parking spot,how much money do you think he spends in a year. how many taxes does this guy pay. he most likelly ownes his own company, how many americans do you think work for a man that spends 300000for a parking spot. the mafia left won't be happy untill there is only one class, the lower class.

    • 3 years ago
  • heimbachae
    • 0
      heimbachae  
    • mattkwooten:

      i wouldn't work for him, he obviously doesn't realize parking is free if you just look around. and kid, read the news, people are mismanaging their money daily, this is why we are in a recession, taxes need to be raised for the upper class so they can feel the pain that the rest of us feel, money management.

    • 3 years ago
  • mattkwooten
    • 0
      mattkwooten  
    • mattkwooten:

      the goverment shouldn't tax people more for being good at making honest money. they should cut people off services like food stamps and welfare after a certain amount of time, now that would save money. and by the way KID. i do very well for myself and i don't think i should have to pick up the slack for lazy middle aged men and woman. my bills are paid and my family os safe, i should be able to spend my money however i want.

    • 3 years ago
  • iamfree
  • mattkwooten
    • 0
      mattkwooten  
    • mattkwooten:

      i like how you guys resort to personall insults when you can't think of anythign else to say.IAMFREE
      the only thing you know about me is that we don't share the same views on politics, and now i'm spineless??
      you name should be
      IAMSTUPID

    • 3 years ago
  • thea_inthecity
    • 0
      thea_inthecity  
    • mattkwooten:

      Matt- if you have worked hard for your money, good for you! More people should get out there and be hard workers!

      However, after what our country has seen regarding money and where/how it gets distributed, you can't blame these guys for being cynical, we are all going through it right now, the honest hard workers included.

    • 3 years ago
  • iamfree
    • 0
      iamfree  
    • mattkwooten:

      exactly..don't come here with the.."i work so hard and my bills are paid" tude..dude..you seem to lack compassion...have you been watching all the homeless videos being put up lately?...those are human beings out there bruh..exactly like yourself..and me..you see everything as okie dokie because you're okie dokie...with a mindset like that your opinions and views on this site are meaningless.And i apologize for insulting you..just slipped out and i typed it.

    • 3 years ago
  • heimbachae
  • SPECIALIST
    • 0
      SPECIALIST  

    • who cares!?!?!? that 300k will just get recirculated somewhere else by the seller. a whole lot of ferrari mechanics are delighted when some rich fool "wastes" their money on the latest model.

      seriously, stop taking yourselves so seriously. stop delegating your morality on everyone else.

    • 3 years ago
  • DaveFriedel
    • 0
      DaveFriedel  

    • Welcome to Bahston! Move yah friggan cah! When I go down there for work, it's about $30-35 for the day, if you're lucky enough to find a spot.

    • 3 years ago
  • mattkwooten
    • 0
      mattkwooten  
    • DaveFriedel:

      if that is the case then it would be a good investment for somebody who has to travel to the city on a daily basis for work. at 30 bucs a day thats 600 a month. times twelve and thats $7,200.
      all he did was pay for his parking for the next 44 years.
      if he is a young doctor who doesn't plam on moving his practice, then it makes perfect sense.

    • 3 years ago
  • DaveFriedel
  • kryssi51
    • 0
      kryssi51  

    • Why would anyone spend that obscene amount of money on a parking space? There are so many other useful things that money could have helped with...

    • 3 years ago
  • crispyfritters
  • tommytripper
  • handerti
  • deadpool
  • rrick
    • 0
      rrick  

    • I am jealous. Now to work that much harder to maybe get something as nice as that. Think of it, your weekend getaway from the city just waiting for you, footsteps from your daily bubble. I heard of this before but didn't see the photo, it's greater than I imagined. Residential neighborhood, a corner spot only one side is shared, AND BRICKWORK!!! Totally worth it!

    • 3 years ago
  • nkeg87
    • 0
      nkeg87  

    • I know you cant tell people how to spend their money. But when I know there are people starving to death every day, it disgusts me that people spend that much money on a place to put their car.

    • 3 years ago
  • Sam_the_Wizer
    • 0
      Sam_the_Wizer  

    • When I was working in Aspen a truck wrecked on a boulder at this guys house. He freaked out because he claimed to have paid hundreds of thousands of dollars for this boulder (in the Rocky Mountains). At least a parking space has utility.

    • 3 years ago
  • fdsooner
  • good_stuff
    • 0
      good_stuff  

    • Yeah, I wonder what the property tax is on something like that. Although the article doesn't say if he technically owns or rents the space.

    • 3 years ago
  • carmalite
  • deadpool
  • danteglam
  • sullyhit
  • deadpool
    • 0
      deadpool  

    • It's terrible in Boston, I live in Quincy, an annex of Boston and my sketch landlord claims that a 20x20 ft black top in a shitty residential area is 120,000.

      Luckily I'm bustin' a move out of here soon.

    • 3 years ago
  • deadpool
  • TopScruffy
  • smj2009
    • 0
      smj2009  
    • Image

    • Harrodds in London put a parking space up for sale for £225,000 in 2007. With today's exchange rate that would be $367,758.79.

      And it came with a £650 per year service charge. But if you can afford to buy it, what's another £650?

      I wonder if the housing crisis has lost the wealthy owner any money?

      I think I'll stick to the multi-storey.

    • 3 years ago
  • bailey78
  • MoonLoon
  • TabulaRasa
  • bailey78
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