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Oil Prices and Home Prices

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gerdee
LIF Zygote

Member since 2/08

22 total posts

Name:
G

Oil Prices and Home Prices

With the ridiculous price of a barrell of oil and gasoline, do you think prices of homes will continue to drop over the next 12-15 months? I happen to believe that because of the economy and the price of oil and gas, home prices here on long island are going to be in for a 10-15% drop in value. Any opinions?

Posted 5/22/08 1:53 PM
 
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Beth
The Key to your new home....

Member since 2/06

24849 total posts

Name:
Beth

Re: Oil Prices and Home Prices

I don't think we have seen the worst yet

Posted 5/22/08 1:54 PM
 

aliwnec10
mom of 3 boys

Member since 4/06

11426 total posts

Name:
Ali

Re: Oil Prices and Home Prices

Posted by Beth1210

I don't think we have seen the worst yet




I don't either...

Posted 5/22/08 2:08 PM
 

NancyD
I love this guy so much<3

Member since 5/08

1294 total posts

Name:
Nancy

Re: Oil Prices and Home Prices

I just read something today that the home prices are expected to drop at least 25%
I'll take a look and see if I can find it.

Posted 5/22/08 2:38 PM
 

Gertyrae
Peace out Homies!

Member since 5/05

20046 total posts

Name:
Gerty ®

Re: Oil Prices and Home Prices

I think that the economy in general is going to hurt home sales. People don't have as much extra income and with other things going up it's harder to save for a house or be able to pay a mortgage.
I know so many people who have switched to using CC's for gas purchases alone...it's going to end up causing them problems down the road.

Posted 5/22/08 7:04 PM
 
 

Potentially Related Topics:

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How much cheaper is it to have gas vs. oil to heat your home? Mommy2Boys 5/22/08 14 Home
A chart of home heating oil prices DRMom 1/8/08 6 Home
How is this supposed to help gas prices? "House passes $18 billion in new taxes for Big Oil" SweetestOfPeas 2/27/08 0 Families Helping Families ™
Negotiating New Home Prices (OOS) MrsSchwags 4/4/07 11 Home
Biggest drop on record for existing home prices SweetTooth 11/28/06 4 Home
Newsday: Median Home Prices fall in Nassau MegZee 10/12/06 3 Home
 
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