Buying Time at the Curb

Although drivers park free 99 percent of all their trips, you probably feel that you pay for parking on more than 1 percent of your automobile trips, and perhaps you do. Many of us undoubtedly pay for parking more frequently than others do. Americans make 230 billion vehicle trips a year, so drivers pay for parking 2.3 billion times a year (1 percent of 230 billion), but they also park free 228 billion times a year.If drivers don't pay for parking, who does? Initially, developers pay for it when they provide all the parking spaces required by zoning ordinances. The cost of land and capital devoted to required parking raises the cost of all development, and this cost translates into higher prices for everything else, so everyone pays for parking indirectly. Residents pay for parking through higher prices for housing. Consumers pay for parking through higher prices for goods and services. Employers pay for parking through higher office rents. Only in our roles as motorists do we not pay for parking because motorists park free for most trips. Everyone but the motorist pays for parking