The last time gas prices spiked sharply in 2007 was the beginning of the end for the "Real Estate Boom". At that time, commuters rethought their idea of moving to the Poconos due to the high cost to commute from NYC and back. With the bus companies hauling the majority of commuters into the city each day, they are raising their prices in accordance with the rising gas prices. These additional commuter costs may be enough to deter the person looking to move to the area from doing so until the price of gas comes down to an affordable level. Hopefully this doesn't adversely effect the amount of home a buyer can be prequalified to purchase.
Andy Williams
President
Abacus Regional Mortgage
484 695 5972
Valuable insight Mortgage Man!
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