The Third Wheels

Physician's Money Digest, January31 2004, Volume 11, Issue 2

One of the bright spots of the recenteconomic slide was the steady level ofconsumer spending. It turns out thatmany of those dollars went for cars andother vehicles, so that, for the first time inhistory, the average American householdhas more cars (1.9) than licensed drivers(1.8). The urge to buy an extra set ofwheels has crammed the average Americanfamily's driveway with three andsometimes four cars, even when onlymom and dad can drive. According toFord Motor Company research, the numberof three-car families is up 27% since1999 and now includes 3 of every 10households. To house these occasional-useextra cars, 20% of all new homeshave a garage that can hold three vehiclesrather than just two.