Driving Behavior
01/29/2014 | | econ70, Economic forecasting, economist on radio, economist on TV, eisenberg and economics, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, funniest economist, funny housing economist, Graphsandlaughs, graphsandlaughs and eisenberg, housing sales, MLS, mortgage banking, Multiple listing service, per capita VMT, politics and economics, Public speaking economist, Vehicle miles traveled, VMT
Six years after the start of the Great Recession, the total number of vehicle miles traveled (VMTs) is still 2.27% below the pre-recession high. Moreover, per capita VMTs are down a whopping 7.82% since peaking in June 2005. In the last recession, VMTs did not decline while in the 1990 recession they recovered in just six months. In the double-dip recession of the early eighties VMTs recovered in 40 months.