I think that it’s mainly lower income people who are hurt by gas prices. My brother told me today that a poll indicated 2/3 of Americans are midly to seriously affected by higher gas prices. Couple this with record high mortgage payments, property taxes, and doubled minimum credit card payments, and I think it’s obvious that American’s are 1/2 paycheck away from falling off a cliff.
But people don’t complain about housing, because housing is a choice. You can choose to buy, choose to rent. You cannot choose whether to buy gas or hydrogen or take mass transit. You’re basically stuck with paying the high gas prices.
Second, when you pay high prices for housing, you think you’re building equity. So people are not resentful of paying for a house. Gas purchases benefit oil companies.
