Wikinvest Wire

Gasoline prices and home prices

Thursday, June 19, 2008

It was only four years ago that home prices were rising at the rate of 20 percent per year and gasoline cost less than two dollars a gallon, yet it seems like a distant memory.
When you think about the Hummer in its heyday back in 2004 and early 2005, this chart just about tells the whole story - home equity burning a hole in the pockets of millions of homeowners and being able to fill up a 33 gallon tank for about $50 or so.

Once the hurricanes struck in 2005 ... well, we all know what Hummer lots looked like after Katrina and Rita swept through the Gulf Coast.

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