Will rising gas prices wilt the spring market?
With the Middle East in turmoil, gas prices are headed up.
And that could have some serious implications for anyone hoping to sell their home this coming spring and summer.
Some energy analysts are already predicting gas will hit $4 a gallon and above by this summer.
So who does this hurt - and conversely help - across the Greater Boston housing market?
Well take a look at this Journal piece. It focuses on the waning fortunes of Homestead, about 30 miles outside of Miami. Once seen as a refuge for priced out buyers during the bubble years, has become a foreclosure trap, with one of the highest rates in the country. (If you are wondering, 44 percent of homeowners are behind in their payments.)
And rising prices at the pump are likely to make matters worse - nearly half of the average Homestead family's $36,000 median income is gobbled up now by housing costs, gas and other transportation costs, the Chicago-based Center for Neighborhood Technology estimates in the story.
Similar dynamics are at play here in Greater Boston, which saw an exodus to cheaper housing beyond 495 as prices soared during the bubble years.
And the combination of the emerging double dip in prices with rising gas prices could spell trouble for Boston's exurbs.
Conversely, it's likely to intensify the battles and occasional bidding wars for half decent homes within the 128 beltway.
Before you buy, better tally the costs at the pump of your daily commute from your new home.
