It’s definitely going to have an affect on the marginal buyer. Not only is the marginal buyer going to look to move closer to work, but they will also likely look to buy smaller places because they want want to pay to heat and cool a McMansion.
Just two years ago, I never thought about the price of gas. Now, I’m wondering if my gas-powered car will become a relic in a few years because gas won’t be available at any price.
