Cowen on Parking: Tyler Cowen’s latest NYT column takes on the hidden scourge of free parking.
I haven't checked since the real-estate decline, but the extra cost of private parking for a townhouse was estimated at $50K in Philly's Society Hill neighborhood, where we own a townhouse. We just parked on the street, with a essentially free residents' permit. Most of the time, we could find a parking stop close to our home, and very rarely did we have to leave our car overnight in a pay lot. More generally, on-street parking pay parking in Philly is significantly cheaper than private pay-lot parking.
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