Gas Prices Hurting Housing Market

The bursting of the housing bubble may be tied to rising gas prices, according to one economist.

"Can steadily increasing gas prices also be blamed for bursting the housing bubble?"

"Yes, says Portland economist Joe Cortright of Impresa Inc. 'The gas price spike popped the housing bubble,' he writes in a new report called 'Driven to the Brink.'"

"The report, funded by CEOs for Cities, a pro-urban Chicago-based nonprofit, advances an argument gaining steam in national urban planning circles: Rising gas prices have made it less attractive to live in suburban neighborhoods that require driving to work, shop and fun."

"In metro areas where home prices are falling, they're falling more steeply in suburbs than in central areas. In metro areas with strong inner city neighborhoods -- like Portland -- prices of centrally located homes continue to rise while the region's prices fall."

Thanks to Dylan Rivera

Full Story: Spike in gas prices help burst housing bubble, a Portland economist suggests


Prepare for the AICP Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $245
AICP CTP Storefont Display

The first online AICP* CTP exam prep class

Are you ready to take the AICP* Certified Transportation Planner exam?
Priced at $245 for May exam!
DVD Cover of The Story of Sprawl

The Story of Sprawl

See how America changed shape in this collection of historic films that visually document how sprawl evolved.
$29.99 for 2-DVD SET

City Coasters

Hand-drawn engraved maps of your favorite neighborhoods are divided up across 4 coasters making each one unique.