The price of gasoline is pinching the pocket book of almost every American. Even the well heeled. Something needs to be done some time soon here (Ahhhhhhhhhhhhhhemmmmmmmmmmmm).
As if the real estate market needs another black eye...
People are resisting making purchases of property in areas where they will be forced to do more driving than they are already doing. The new trend that I am seeing with buyers is that they want to be closer to work. Especially in Los Angeles where one can easily spend 20% of their day in the little cubicle that us Angelenos call our cars. These days I am personally spending $4.65 /gallon here in the South Bay/Beach Cities area. I remember not too long ago paying under $2 / gallon. The new debate is now about drilling in some of these environmentally protected areas that have been under moratorium since 1981...We will see how that goes. I am not holding my breath.
Maybe in the year 2030 when gas is $9.95 / gallon and my kids are belly aching about fuel prices I can pull out the old, "I remember back in 08'..."
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