Long Beach Real Estate-Long Beach Condos

The Economy is Hitting Home

The Economic Squeeze

Watch this interesting 2 minute video by ABC News, Diane Sawyer.

Rising housing, gas and food prices are driving people out of their cars and back into town...

The mortgage crisis combined with rising housing costs related to the sub prime crisis are really starting to hit home for many Southern California residents who still commute. With the price of gas now topping $4.50 per gallon at most Southern California stations this is becoming a very serious issue. I drive an SUV (which I still love, sigh...). Yesterday I spent $143 to fill the tank; can you say OUCH?!? That equates to over $600 per month in gasoline for me and I rarely leave the Long Beach area! Looks like I am going to have to think about a smaller, more fuel efficient car pretty soon.

By the way, has anybody else noticed that a tank of gasoline isn't going as far as it did? It seems to be burning up a lot faster these days. I asked a friend who works at one of the refineries about it, he mentioned that they are adjusting the ethanol content in the mix which causes the fuel to burn faster. Gee thanks George W!

Buffalo NY Realtor Colleen Kulikowski has not only noticed less miles per gallon, she reports that Mobil Oil is advertising no ethanol in their mix up in her area. After experimenting she is seeing a better return on her miles per gallon. Definately something to consider when deciding where to pump that liquid gold! Hey Mobil, is that nationwide? Or just up in Buffalo?

Many homeowners have faced or are facing foreclosure due to adjusting mortgages, which few can afford. This combined with the rising cost of gasoline, food (have you checked out the prices in the supemarkets lately - good grief) and just about everything else has just about everybody rethinking just about everything.

Many homeowners are interested in downsizing their homes, are seeking affordable housing and are moving closer to their places of employment; or are seeking ways to work remotely from home.

Long Beach Real Estate is affordable and beach close. Oh and by the way, we have better weather down here at the beach. Cooler in the summer, wamer in the winter.

What are you doing to ease the effects of the economy?