Is gas prices effecting the real estate market?
Is gas prices effecting the real estate market the answer would be "Yes" as I have meet with a first timehome buyer asking question and getting to know the family as to what is important to them. #1 I don't want to have a long commute to my job so I need to find a home within 15 minutes from where I work.
As gas prices continue going up it will have an effects on the purchasing power of the homebuyer because homes that might be closed by the job might not be what the homebuyer could afford. In order to start figuring out what are some of the options available to the buyer to consider is; maybe changing the type of car that the family owns to a hybrid, ride a motorcycle or start ride share. Now it's time to be creative if the buyer can't afford the neighborhood that is close to where they work.
Is gas prices affecting the real estate market it is now becoming an issue in the presidential campaign. What is more suprising is that Americans spent 8.4% of their household income on gasoline last year and will be even be more this year if there is no solution in sight.
Is gas prices affecting the real estate market "Yes" if prices continue to rise homebuyer will need to rethink about purchasing and could put it off because they just don't qualify any longer. Per Ben Bernanke, Federal Reserve Chairman, he expects rising gas prices to be merely a temporary phenomenon, pointing to tension with Iran as the main cause. Read more: http://www.thebostonchannel.com/r/30568530/detail.htm
We could only hope that the long term effects does not stall the recovery of a difficult hosing market that is struggling to recover. To help with keeping more money in your pocket take a look at this link to find low gas prices; http://gasprices.mapquest.com/
Let me know if I can assist you with your Real Estate needs as I am watching out for your bottom line.