I hear you! My backyard butts up against a major highway. My house is inbetween two traffic lights. I often hear the sound you're talking about, but I especially hate the sound of 18 wheelers trying to come to a stop. 18 wheelers not familiar with the road, cruising at 55mph, are often surprised by either light.
Yes! We live on a dead end street, but the end of the street goes right up to a major highway(128/95). Since weve been here(3 1/2) years we have heard a few crashes among many squealing brakes. Its very frightening.