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What Would It Take For YOU To Feel The Pinch Of Higher Gas Prices?

September 14, 2007 by Scott Kinne

As crude oil crossed $80 a barrel Thursday, the Wall Street Journal ran an interactive poll with its readers.

What sustained price for gasoline would cause you to cut back on other household spending?

The graph above shows the on-going results of the non-scientific study. You can chime in, too, at http://forums.wsj.com/viewtopic.php?t=805.

As consumers cut back spending, the economy slows down which generally leads to lower mortgage rates and weaker housing markets as a result of job losses. According to GasBuddy.com, some areas of San Francisco are already topping $3.50/gallon.

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Scott Kinne

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Vice President, Senior Loan Officer
NMLS ID #182351
Office: 703.293.6146
Mobile: 571.237.6241
Fax: 571.317.2478
skinne@fhmtg.com

Licensed In Maryland, Virginia, Washington D.C., West Virginia
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