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My paid-off home value rose from $550k to $1M, so $4/gal gas here in SW Florida is no biggy. I burn ~1 tank/month being a work-from-home semi-retired business owner.
High gas prices crush the bottom 40% who are renters, & are a pain to the next 40%...home-owning strivers who mostly commute to work in a gas car.
To the debt-free top 23%, even $10/gal gas is nothing to lose sleep over.
I am debt free as well and never have had any debt and my home has always been paid for. So absorbing higher gas prices does not hurt nearly as much.
Though your home rising in value or being flat or even falling in value really has nothing to do with anything unless you own multiple homes and intend to sell one of them.
In one week, the price of gasoline, here in the Triangle, has gone up from $3.50 to $3.80 - $3.90.... This is insane! I have no idea how people who live paycheck to paycheck are able to afford this....
I paid $3.69 last night, but I have seen it as high as $3.89 locally.
Luckily I work nearby and can avoid most other driving.
I am debt free as well and never have had any debt and my home has always been paid for. So absorbing higher gas prices does not hurt nearly as much.
Though your home rising in value or being flat or even falling in value really has nothing to do with anything unless you own multiple homes and intend to sell one of them.
Very true. Our home has tripled in value, but since we don't plan to sell it or borrow money on it, it does not matter. But since we have many dr appts, the raise in gas prices has affected us. I am still trying to recover from the vaccine. The specialized treatment that I need is only available 45 miles from here.
Holy cow. I used to observe Southern states near large oil reserves had far cheaper gas than Metro Detroit and most other areas. Here in Metro Detroit it is like $3.69 average as of today.
Back in 2006-2008, I remember Texas and Oklahoma had far cheaper gas prices it seemed than anyone else especially Texas. Now it seems Texas is just as expensive and many more states have gotten more expensive over a decade later relative to Southeast Michigan. And they even raised gas tax by 10 cents in Michigan effective January 1, 2017 to pay for road repairs.
Did they significantly increase the gas tax in Oklahoma and Texas compared to the late 2000s to early 2010s where prices were much cheaper than almost all other states.
You need to stop lying. I checked yesterday just after I drove past the stations and it was wrong, again.
Just got home and some of them are wrong again.
Uh huh. The last time this conversation came up, you were trying to compare one obscure station in your area to the average and used that as your basis to conclude gasbuddy was wrong (completely disingenuous). You clearly don't understand how an average works. The bottom line is, you have companies like gasbuddy and you have people with an agenda. I'll choose the former any day and know that it has been accurate within pennies for me for over a decade in a variety of states.
Very true. Our home has tripled in value, but since we don't plan to sell it or borrow money on it, it does not matter. But since we have many dr appts, the raise in gas prices has affected us. I am still trying to recover from the vaccine. The specialized treatment that I need is only available 45 miles from here.
Exactly and the option to borrow against home equity should be flat out banned. Its a lot of but not only reason what got us to 2008 crisis to begin with. Same with less than 10-15% down mortgages.
When they allowed people to borrow to buy stocks that lead us to great depression in 1929 to 1939. And heck they still seem to allow that now. When will lessons ever be learned.
And yes I do have Dr. appts and sometimes have to deliver things at work and go in and out depending on job function which changes all the time and cannot expense gas for it, so it does hurt a bit, but I am ok, just cannot save as much money as before which sucks as these stupid high gasoline prices hurt everyone in different ways all the time. Fortunately work is only 4-7 miles away depending on location but multiple trips do add up at times. And I do have Dr. Appts, but not many of them.
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