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Gas Prices Affecting Home Sales
Until recently it didn't matter whether we lived close to our jobs or further away. Gas was inexpensive. It was a lifestyle decision. Commuting for 45 minutes was of no consequence for me ten years ago, now my commute of 15 minutes is truly of concern. The question is, how is this going to impact real estate and how are we going to adjust with the tide. Today I had someone come to my website and when I called she discussed her agonizing decision about a potential move. Her family lives in a small town near Bryan/College Station with an excellent, but small K-12 school nearby. Both her husband and herself drive in to Bryan each day. She is currently pursuing her teaching degree, and goes to Blinn Campus, and her husband is a patrol officer for Texas A&M University. Because of differing schdules they are driving seperate cars and currently each spends approximately $250 a month on gas. With gas prices escalating and forecasters predicting $10 a gallon gas that $500 a month her family spends on gas could soon become $1400 a month making it unfeasable to live where she currently iives. The problem lies in the small amount of jobs in a small town. With more people moving to metro areas or cities to get closer to their jobs the options for jobs in a smaller town get smaller and smaller. Who is our target audience for those homes that are in areas where there are no jobs? Will alternative fuels save the day...what about hybrids or electric cars? Whose crystal ball is working? What is your take on the situation? Are these homes strictly going to go to the telecommuters or is there hope for America's small towns?
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Contributor's Note
Gas Prices Could Devastate America's Small Towns
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May, 2012
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