(cont'd)

If you have a streetcar, you can get rid of one of those parking spaces. That would drop the $200,000 condo to $175,000. In addition that household would only have to pay upkeep on one automobile, saving around $5000 a year (gas, insurance, wear and tear, car payments) or $420 dollars a month that could be put towards the mortgage.

The couple can either have a $175,000 condo of about the same size and an extra $400 to spend ever month, or put the money saved towards the mortgage and afford and extra $50-60,000 worth of house.