City living in the face of gas hikes  (re-posted from my other blog in April after a conversation with a suburbanite looking to move to the city)

You'll never hear me complain about the cost of a gallon of gas. Surprising considering I'm a Realtor who basically lives out of his car. Okay, maybe I'll complain about the cost of the actual gallon of gasoline, but not oil prices. Let me explain.

Crude oil prices are subject to a free market. Crude oil is a very special market commodity affected by the widest range of global issues, trends, and conflict. It is also a market commodity that, effectively, can and will change the daily course of our lives. The countries that produce oil will enter into agreements with the countries that want it. Then... we buy it.

A gallon of gasoline in the states is also highly taxed... not as high as Europe... so the cost is highly subjective to governments. Something very worthy of complaints if you feel tax money is being squandered.

So when gas prices go up I feel it as much as anyone (due both to my dependence on my car and my indignation towards the use of tax money), but complain less. This is because I live in Chicago and have a choice to drive less. Even as a Realtor, I can take public transportation on certain days when I predominately work in the office.

Because of the centralization of jobs and industry downtown, a nice little condo by public transportation is a much more valuable and stable commodity than oil. So I don't complain... because the higher gas prices get, the more it makes sense to live near work and take public transportation. And the Chicago housing market thrives. 

The market can change the cost of goods and services on a dime. The location you choose to live will help you weather those fluctuations and dampen their effects.

 
Posted by Eric Rojas on 12/01/2006 12:39 AM   Comments (0)   buying, general, selling  
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Eric Rojas

Chicago, IL

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Rubloff Residential Properties

Office Phone: (773) 687-4646

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The Pride of the North side, pound for pound the hardest workin' man in real estate... he is the Chicago Real Estate Local


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