Monday, April 24, 2006

$4.00 Gas

A popular topic on the housing bubble blogs is what will be the effect of expensive gasoline prices on real estate demand and prices. As far as the Jersey Shore is concerned, I think that over the long term high gas prices will persist and will depress demand in some of the areas that are furthest from NYC (but still within commuting distance.)

Ocean County has become a lot more popular over the past 10 years as a place to live and as far as I can tell, plenty of people commute to NYC each day from some of the more northern towns of Ocean County. Commuting from Brick or Jackson, I would imagine, must have seemed relatively cheap if you bought a home there three years ago, however, the cost now, with gas at over $3.00 has got to be pretty painful. I doubt too many people would pack up and move further north to shorten the daily commute and reduce commutation costs. On the other hand, there are probably families in Jersey City or Staten Island that have been thinking of moving to Toms River or Brick but are putting those plans on hold because of the increase in the cost of commuting caused by high gas prices, or the threat of higher gas prices.


Anonymous Anonymous said...

The price of gas is lending a helping hand to squashing the Jersey Shore real estate market. How many boats are going to stay covered or come as the newest "incentive" with that house for sale? Pay too much for this house and we'll give you a boat you can't float! Inviting...Yikes.

Monday, April 24, 2006 10:20:00 PM  
Anonymous Anonymous said...

& some boats drink gas like dad has a boat and it is as the old saying goes, "a hole in the water, into which you pour money..."

Tuesday, April 25, 2006 8:48:00 AM  
Blogger njpineygal said...

Personally I don't care if I am paying $5 a gallon so long as it keeps them in Staten Island.

Wednesday, April 26, 2006 11:43:00 AM  

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