Google Inc (GOOG)’s Driverless Cars Will Drive Down Real Estate Prices

Those massive parking lots you see everywhere, at the mall, the airport, outside the grocery store? There will be no need for them. This will free up massive tracts of land for new businesses, for parks, or even living space (apartments, etc.) With a growing population and thus demand for land, the rate of increase of property would slow or even fall making home ownership more affordable for all, etc etc.

Fewer Lawyers

Society loses vast amounts to dishonest people, some of which are, of course, lawyers.

Google Inc (NASDAQ:GOOG) assumes its driverless technology deployed in mass can rid the world of 90% of accidents. Less accidents for ambulance chasers to run after. Also, the sensors, video, and read outs of the respective cars will in most cases show exactly who, or what, was at fault reducing time and friction in court.

Drunk Driving

With almost no one owning a car, it becomes a relic like crime. “James got arrested for drunk driving? How quaint.”

All those don’t drink and drive commercials get replaced by ads for Anheuser-Busch InBev NV (ADR) (NYSE:BUD) “Thanks Google Inc (NASDAQ:GOOG), this Bud’s on us!”

Seriously, demand for alcohol will increase with the deployment of driverless technology. Of course, throwing up in the back seat of the robotic taxi might earn you a $50 cleaning bill, but that’s exponentially better than the 10k it costs to defend yourself against a drunk driving offense. (again, bye-bye lawyers and costs to society)

Expect to find alcohol producers on the same side of the aisle as Google Inc (NASDAQ:GOOG).

Coming Up

I have explored only a few of the myriad of benefits that driverless technology might offer us. Yes, it IS that disruptive and awesome and I encourage you readers to feel free to share your thoughts in the comment section about your feelings/ vision.

In the next column of this series, I’ll be discussing who stands to lose from this technology and why it’s no sure bet.

The article Google’s Driverless Cars Will Drive Down Real Estate Prices originally appeared on Fool.com and is written by Margie Nemcick-Cruz.

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