Comment commute max (Score 1) 314
I think at least in the United States, we've also hit the maximum commute times people are willing to tolerate. For a long time "drive till you qualify" (i.e. "drive outward from the city until you find a house you can afford") was the motto of the real estate industry. People found out how much the quality of life suffered when they were spending two hours in each direction behind the wheel of a car. They're now willing to make sacrifices in other areas (less living space, smaller yard, schools not as good) for more reasonable commute times.
I've been looking for a house to buy recently and there's a maximum commute time I'm willing to tolerate. Beyond that, I'll keep renting, thank you.
Many of the people who bought houses in far-flung exurbs "because it's where I can afford to buy" were also stretched pretty thin financially to afford those houses. The recent recession, with its layoffs and real estate bust, was not kind to those people. Many of them are not commuting long distances to work because they simply don't have a job anymore. Or they've lost their home and have moved back into a rental closer to the city.