At a recent Economic Update speaking engagement, we spoke about the fact that Gas prices could affect the Real Estate market. The trigger point is $4.25 per gallon. This has been deemed as the price that will make a noticeable reduction in the wallets of the consumer. We call it the “Hurt Factor” and this has played itself out many times before in our economy, especially with gasoline. I was not driving in the ‘70’s, but I do remember waiting in the Gas lines.
In the video below, Russ Haraus from Single Family DEvision, mentions Gas prices as making an impact. RealtyCheck also points out that Cash Buyers make up 35% of all transactions; the highest on record. The overall news in this clip remains very positive for the Real Estate market as a whole, and we continue to see positive news each day.
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