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The gas bubble will pop the housing bubble

G

glugglug

Diamond Member
Higher commuting prices will reduce the enthusiasm for suburban sprawl and send more people moving closer to work (more likely to be in inner cities). All the new housing developments far from everything are about to take a nosedive in popularity.
 
this event will definetly effect the economy
at least as much as 9.11

i think i need to move some of my 401(k) from growth to bonds, BRB
 
more immediately, how about the people who bought houses that they really can't afford out in the suburbs, living paycheck to paycheck, (i.e. interest only loans for the people who aren't investing the savings) suddenly have to cough up an extra hundred a month to get to and from work?
 
Originally posted by: FoBoT
this event will definetly effect the economy
at least as much as 9.11

i think i need to move some of my 401(k) from growth to bonds, BRB
Click to expand...

what about international? (for the 401k I mean)
 
I <3 my 2 mile commute.

I laugh at my friends who have to get gas multiple times a week after just driving back and forth to work and running "local" errands.

on average, I get gas once about every 3-4 weeks 🙂

having shopping within walking distance from my apartment ftw 😛
 
These gas prices are finally giving me an excuse to buy a car. I drive a fullsize pickup, the amount I'd save in gas by buying a car will mean an almost free car for me. Yay!
 
I bet all those inner city New Orleanites are thinking "Man, I sure am saving a lot of cash on gasoline living near work. Plus I saved a ton of gas by not evacuating!"
 
Originally posted by: DrPizza
more immediately, how about the people who bought houses that they really can't afford out in the suburbs, living paycheck to paycheck, (i.e. interest only loans for the people who aren't investing the savings) suddenly have to cough up an extra hundred a month to get to and from work?
Click to expand...

Originally posted by: glugglug
Higher commuting prices will reduce the enthusiasm for suburban sprawl and send more people moving closer to work (more likely to be in inner cities). All the new housing developments far from everything are about to take a nosedive in popularity.
Click to expand...

I agree with both of you. I have been saying for years some economical shock will probably be the start of the bubble to burst...because it has to burst eventually. Things are going to get much much worse EVERYWHERE before they get better.
 
Originally posted by: jtusa
These gas prices are finally giving me an excuse to buy a car. I drive a fullsize pickup, the amount I'd save in gas by buying a car will mean an almost free car for me. Yay!
Click to expand...

lol... whatever floats your boat

keep telling yourself you're getting a free car
 

Only time will tell.

I don?t think the slight hike in fuel price will have an affect on housing price because demand still out striping the supply.

Gas price in the 70/80s didn?t affect house prices much, but what impacted housing price was the high interest. And, by the look of all of the disaster I don?t think interest rate is on the quick rise at any time soon.


 
Actually, the conventional wisdom at this time is that high gas prices will cool the economy off enough to keep interest rates low. Already there are whispers that the Fed will not raise rates again at the next FOMC.
 
Nah ... Gas bubble is slowing economy. Greenspam won't raise the short term rate again this year. 10 year note will stay below 4.50% for a while. PIMCO and UCLA economists predicted that recession in the Q4 or next year. It looks more realistic now.
I don't see a major correction in real estate in SoCal in the next six months. Eventually it will though.
 
Originally posted by: dugweb
Originally posted by: jtusa
These gas prices are finally giving me an excuse to buy a car. I drive a fullsize pickup, the amount I'd save in gas by buying a car will mean an almost free car for me. Yay!
Click to expand...

lol... whatever floats your boat

keep telling yourself you're getting a free car
Click to expand...

Well it's not free as in free, but, the many I'm spending on gas I will be spending on a car instead.
 
How many miles do you drive in a week? Depending on that and what car you would get, it could take up to a decade for a smaller, more efficent car to "pay off"
 
Originally posted by: glugglug
Higher commuting prices will reduce the enthusiasm for suburban sprawl and send more people moving closer to work (more likely to be in inner cities). All the new housing developments far from everything are about to take a nosedive in popularity.
Click to expand...

And rents/prices in inner cities will grow
 
Motorcycle sales will start going up again. Count on it. People riding in from far away. It just makes sense.
 
Originally posted by: Tbirdkid
Motorcycle sales will start going up again. Count on it. People riding in from far away. It just makes sense.
Click to expand...

I don't think I will see many motorcycles as daily drivers in Chicago, Alaska, or Florida. Maybe during Alaskan summer and Florida winter
 
Originally posted by: JinLien

Only time will tell.

I don?t think the slight hike in fuel price will have an affect on housing price because demand still out striping the supply.

Gas price in the 70/80s didn?t affect house prices much, but what impacted housing price was the high interest. And, by the look of all of the disaster I don?t think interest rate is on the quick rise at any time soon.
Click to expand...
I would expect to see a significant increase in housing prices - due to shortages in lumber & other building materials as rebuilding in NO starts. New homes will become much more expensive, so there will be increased demand for existing homes.
 
Originally posted by: FoBoT
this event will definetly effect the economy
at least as much as 9.11

i think i need to move some of my 401(k) from growth to bonds, BRB
Click to expand...

as much as 9-11? i dont think so. 9-11 people lost retirements, savings, etc.

I mean it went up 40 cents in my area. Its only another $7 a fillup. Its not really breaking the bank yet.
 
YAY FOR ME! I just moved into a new home about 5 minutes from Downtown! my house price willl SKYROCKET!!
 
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