Wednesday, June 18, 2008

Cost of Gas Influences Housing Purchases

Homes near public commute options seem to be the "hot" real estate ticket

By Curmudgeon

Story today on MSNBC.COM:

In his hunt for a new home, Demetrius Stroud crunched the numbers to find out that, with gas prices climbing, moving near an Amtrak station is the best thing for his wallet.
Stroud was looking in Elk Grove., Calif. — about 85 miles away from his job in the San Francisco Bay Area — because homes there are more affordable. But with gas at $4.50 and a car that gets about 22 miles per gallon, Stroud would be pumping $560 a month into his tank.
So instead he made an offer on a home near the train station in Davis, which will shave $160 off his commuting costs.
Hope the condos long rumored are to be nearing completion at The Junction, if they are not yet all sold to actual intending residents, note the above.

Speaking of condos, has anyone heard anything lately about the Reid condo development at the Junction RDA? I remember the announcement it was coming, pretty architect's drawings in the paper, etc. And since, nothing. Have they broken ground on the project yet? Has anything happened? Anyone know?

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