The Location Efficient MortgageSlinks: (slingks) Surreptitious web links to other good sites
Finally, some sanity in the home finance racket. Location-efficient mortgages take into account the amount of money you don’t spend on a car. LEM mortgages are now available in three Apartment Therapy cities: LA, San Francisco, and Chicago, plus Seattle. In Los Angeles, this can make a big difference. “For example, a household making $50,000 a year can qualify for a $140,000 home in a low-density suburb, but a $197,00 home in a transit-accessible, urban-style community.”
We especially liked the Transit Myths About Los Angeles County, which points out that cities can and do change… did you know that LA once had 6,000 streetcars?