Here's an interesting piece from BusinessWeek that correlates rising gas prices with declining home values. If everybody in your town is commuting an hour to work, you may have experienced a steep drop in home prices:
Take Murrieta, Calif., incorporated in 1991. The population of Murrieta more the doubled to 100,000 over the past eight years, as residents traded hour-long commutes to San Diego or Orange County, Calif. for newly built mini-mansions at lower prices. In the past year though home prices in Murrieta fell 31% to a median $329,000.[Photo credit: Sfgate] Read More......
