Remember when Joni Mitchell sang about paving paradise and putting up parking lots? Now parking lots are becoming a thing of the past, but does that mean paradise is farther away? Not if paradise is a beautiful new-and more affordable-home.
Faster than the iPhone evolved, transportation is evolving, and changing everything around it. Fewer people own automobiles or plan to purchase them than ever. Particularly among millennials, car ownership rates are declining and anecdotal evidence shows a growing number of young people don't even want to learn to drive. Ride-share services and consumer sentiment are both contributing to lower car ownership.
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