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It might seem far fetched to think anyone in Knoxville would end up paying high prices for parking spaces in front of or near their own homes, but many residents in cities and towns across the nation are doing just that.

In Houston, $225,000 will buy a three-bedroom house with a game room, den, in-ground pool and hot tub.

Parking in new developments is selling for twice what it was five years ago, said Jonathan Miller, an appraiser and president of Miller Samuel.

It seems ridiculous for cities to limit the number of parking spaces per unit, but with space being a premium there simply isn't enough room to include parking for all residents in all buildings.

Scarcity figures big in the escalating prices. Mr. Miller estimated that less than 1 percent of all co-op and condominium buildings in the city have private garages. The city also limits how much parking new buildings below 96th Street can offer, requiring that no more than 20 percent of the units have spaces.>

Paying for parking in front of or near your own home sounds ridiculous to people living in small towns, but future population expansion suggests this will eventually be a problem everywhere.