I agree that people will drive less, but they will only drive less to go out and such. Driving to go to work cannot be changed. Unless you expect them to move closer to work. Maybe the new buyers can do that, but buyers who bought between 2003-2005 are stuck. People who bought long time ago might not want to do it either since they think it’ll go back up eventually and they don’t want to “give” the house away. My take on it is, either suck it up and deal with the gas price as it is, or change your car/driving habit. You can’t have your cake and eat it too.
