Driverless Vehicles and Real Estate

The advent of self-driving cars will certainly transform transportation and, in turn, the auto insurance market. But other industries are also likely to be affected by self-driving technology. A recent article contends that once driverless cars come into use, real estate may no longer be “all about location, location, location.” The ability to commute in autonomous vehicles may drive sprawl, as workers will be able to do other things on their way to work. Some believe that urban space may be freed by decreased need for parking lots (though presumably even driverless cars will need to be stored somewhere when not in use). And self-driving trucks may affect industrial land values, allowing companies to build warehouses in far-flung and inexpensive locations.

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