Gas prices
have been rising, and everyone who is strapped for cash has certainly noticed.
What does this have to do with the housing market; one might ask. Well as you
already know, the commute to work these days seems longer and longer when you
start to consider the cost of gas. Everyone on a budget dreads the day they have
to fill up, so if you are one of these people; you are most likely NOT in the
market to buy.
People who are financially stable are the ones who may be
looking for a new home, and you better believe they are thinking about the
location. This is why more rural areas may be taking a hit; people want to be
closer to their workplace, and with gas being at nearly five dollars a gallon
it really does have a huge impact on peoples decisions.
On the other hand, it doesn’t necessarily have much of an
impact on housing cost. The upturn in the market has been moving in the right
direction for the first time in six years, so the rise in oil prices shouldn’t
be a massive game changer. This doesn’t mean that people aren’t being cautious,
because they are. It is in the back of people’s minds and it could make buyers
a little more hesitant when considering a home.
The one market that has been doing well and is continuing to
do well; is in the urban areas. These homes and apartments are much more appealing
in an economy like ours. Your Chicagoland realtor can help you find a suitable
home that will be beneficial as well as economical to you and your family.
Post by: Identity Dental Marketing
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