With high gas prices here to stay, many experts believe suburbia as we know it will be replaced by more dense and urban settlement patterns.
"Rising fuel costs are being blamed for everything from soaring utility costs to lower retail sales and higher airline tickets. And now, experts say high gas prices could reshape U.S. cities.
'Most analysts believe that crude oil prices in the $50s and $60s will be with us for some time,' says Stuart Gabriel, director of the Lusk Center, a think tank at the University of Southern California devoted to studying real estate forces and trends. There's even talk of crude hitting $100 per barrel -- or 10 times what it sold for in the summer of 2005.
Once the realization soaks into the American consciousness that high-cost gas is here to stay, Gabriel predicts, those high commute prices will pull more homeowners -- even young families -- to live in central cities and create a push for more public transportation."
FULL STORY: Could rising gas prices kill the suburbs?
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