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>Gas Prices Affect Housing Market

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Los Angeles, CA–A Los Angeles Times story said new data that suggests rising gas prices might be affecting the housing market. Home prices in Southern California dropped 27 percent in May from a year ago, and the plunge was even greater in far-out suburbs. Analysts say the housing market in the so-called exurbs might never fully recover, as people are increasingly reluctant to move far away from their jobs because of increasing commuting costs.

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