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How does gas at $4 and higher impact you?

2183 messages,  Last post on Nov 21, 2009 at 5:13 PM

You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires

What is this discussion about? Gasoline, Fuel Efficiency (MPG)


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#1136 of 2183
This is the kind of sad story we will see more often by larsb
Oct 20, 2008 (8:36 am)
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Here is a good example of why the lowering gas prices is a bad thing:
 
PLS Keep Gas Prices High
 
So while they remain worried about their savings and their jobs, some motorists are no longer facing the kind of gas prices that had forced them to eat out less, avoid travel and bike to work.
 
So in essence, they are saying what I have argued all along. Now that prices are lower, people are AGAIN going to resort to their "wasteful ways" and start eating our MORE, traveling more, and ceasing the riding of a bike to work.
 
Sad. Just Sad.
#1137 of 2183
Re: Chrysler (Cerberus) in talks to be bought by GM [larsb] by steve_ HOST
Oct 20, 2008 (8:52 am)
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Replying to: larsb (Oct 20, 2008 7:48 am)

I thought I'd see more hits in a quickie search, but here's one for you:
 
Gas prices fuel home defaults: Monroe foreclosures head for new record (Pocono Record)
#1138 of 2183
Re: This is the kind of sad story we will see more often [larsb] by tankbeans
Oct 20, 2008 (9:01 am)
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Replying to: larsb (Oct 20, 2008 8:36 am)

While I agree that riding a bike is far better for your health, and that those who have been able to start should continue, lower gas prices is not necessarily a bad thing. People eating out more means that they are helping the economy and paying more tax on the food that they eat. Traveling, same thing, they are pushing some money into the local economy, provided they travel inside the country. Not having to pay for gas is allowing people to buy more food, a nicer television, you name it and they are putting money back into the economy and not some rich oil executives pocket.
 
I wouldn't care if gas prices were $3.50 if the oil companies were actually having to spend that much more to produce the product.
#1139 of 2183
Re: Chrysler (Cerberus) in talks to be bought by GM [steve_] by larsb
Oct 20, 2008 (9:07 am)
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Replying to: steve_ (Oct 20, 2008 8:52 am)

Nice. That's one realtor in one county stating his opinion. He gave no facts.
 
Don't get me wrong. Higher Gas Prices were (as was many other items) a small contributor to the current recession.
 
But a DIRECT contributor to the mortgage meltdown?
 
No.
#1140 of 2183
Re: This is the kind of sad story we will see more often [tankbeans] by larsb
Oct 20, 2008 (9:15 am)
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Replying to: tankbeans (Oct 20, 2008 9:01 am)

I understand your point about stimulating the economy.
 
The same rationale GWB used to push his tax rebates. And it did give the economy a temporary boost.
 
And personally, I LOVE to eat out at a nice restaurant. Many people do.
 
But just as we were in the era of the SUV (wasteful) we were also on a trend of maxing out our credit cards because of spending far too much money on entertainment and dining.
 
Money that COULD have gone toward the mortgage payment.
 
One community here in Phoenix was reported on in the newspaper for driving their credit card balances through the roof just keeping up with trying all the new restaurants in the area.
 
It was getting out of hand.
 
If it took higher gasoline prices to make people realize that you can save a lot of money by stretching the family food dollar by eating at home more often, and learning to drive less and carpool more, then I say that was a good thing.
 
Not many things have only one side of the story, though. There were the bad side effects of the prices which we all know about.
#1141 of 2183
Re: Chrysler (Cerberus) in talks to be bought by GM [larsb] by steve_ HOST
Oct 20, 2008 (9:22 am)
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Replying to: larsb (Oct 20, 2008 9:07 am)

I'm still nosing around - most of the gas/housing links are dominated by the New Urbanists stuff, but I'll get there. Meanwhile:
 
"The popping of the housing price bubble coincided with the run-up in gas prices. It can be argued that the magnitude of the increase in gas prices wasn’t suffcient to offset the gains households were seeing in the housing market. In a more steady market, gas price increases might not have been enough to derail the housing boom, but in the heated atmosphere of the bubble, gas price increases may have been the trigger that broke the expectation of continued growth. The households most affected by the rise in gas prices were those who had stretched the family budget to buy a house on the suburban fringe, often commuting long distances in the process. These families spent a higher fraction of their income on gas than the typical household and had less fexibility to accommodate the higher price of gas than others. And for the same reasons, as gas prices rose, houses in these far-fung neighborhoods tended to lose their market appeal frst and fastest."
 
Driven to the Brink (click on the full study link there for the nitty gritty).
#1142 of 2183
You're Joking Right? by ponderpoint
Oct 20, 2008 (9:25 am)
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That's complete poppycock. No relationship. People spending $400 on gas a month instead of $250 did not cause them to default on their mortgage.
 
What did?
 
#1143 of 2183
Posting battle by larsb
Oct 20, 2008 (9:35 am)
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For every analysis you find that includes gasoline prices as a major contributor I can find five that do not.
 
You really want to get into that kind of posting battle?
 
Housing Meltdown - Why It Happened
 
Why don't we just agree to disagree?
 
You can keep your opinion but I will still know the truth. Sound good?
#1144 of 2183
Re: This is the kind of sad story we will see more often [larsb] by tankbeans
Oct 20, 2008 (9:36 am)
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Replying to: larsb (Oct 20, 2008 9:15 am)

Everything within reason I suppose. No I don't agree that you should max out your credit cards to eat at the new restaurants is smart. I agree with your point that we should not go back to the wasteful ways. I think there are enough people who learned a little and are working to fix their ways. I understand that some people are very hard of learning. That's not going to change. There will still be people maxing out credit cards to go out to eat regardless of whether or not gas is $2.00 or $10. Price of gas won't fix stupid.
 
But, there are the people who are working and barely making the bills. I'm one of them. No I'm not looking to have a pity-party because pity-parties are for people who knew they shouldn't have done something and did it anyway.
 
Cheap gas will help the people who are smart and do learn from history. Those who couldn't care less are going to be in trouble no matter what they do, and honestly I'm not going to feel sorry for them.
#1145 of 2183
Re: You're Joking Right? [ponderpoint] by larsb
Oct 20, 2008 (9:36 am)
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Replying to: ponderpoint (Oct 20, 2008 9:25 am)

Each case varies. Mostly it happened because people over-extended by taking the most cash they could out of their overinflated home values.
 
I can't find anyone on Google or any news story for one single family who said, "It was either pay the mortgage or fillup the Prius. We chose gas."

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