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Experts watching energy's effect on housing market
- Article from:
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Inland Valley Daily Bulletin
- Article date:
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August 2, 2006
- Author:
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Copyright informationCopyright 2006 Inland Valley Daily Bulletin. Provided by ProQuest LLC. (Hide copyright information)
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Southern California's housing market remains basically strong, but
experts are keeping a close eye on the cost of energy and its effects
on the economy.
That's the thrust of Metrostudy's second quarter 2006 report on
the housing industry, with the real-estate think tank saying the
region is definitely feeling the stress of $3 and up for gasoline.
Energy costs are becoming more and more important, said Steve
Johnson, director of Metrostudy's Southern California division,
because affordability concerns are driving people farther and farther
from their jobs to find homes.
What that does, Johnson said, is offset the benefits of a lower
mortgage with higher costs for gasoline.
"We are creating a ...
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