Apr 8, 2008 6:07 pm US/Eastern
CBS4 Your Money: Trashed Homes And Gas Prices
Gas Prices
Trashed Homes For Sale
UNDATED (CBS4) ―
CBS4 Your Money on Tuesday, retail gas prices could climb as high as $4 a gallon this summer, but prices at such lofty levels will make many Americans think twice about hitting the road this summer, the Energy Department said Tuesday.
GAS PRICES
On Tuesday, gas prices slipped slightly to a national average of $3.331 a gallon from Monday's record of $3.339, according to AAA and the Oil Price Information Service. Prices are 55 cents higher than a year ago. The government had previously estimated that average monthly prices would peak near $3.50 a gallon by the summer, but analysts predict prices will peak close to $4 a gallon.
TRASHED HOMES FOR SALE
Some lenders are reportedly giving people up to $2,000 to leave their foreclosed homes in good shape.
According to bankers and real estate agents, some of those distressed homeowners facing foreclosure are trashing their own homes, taking out their frustrations on the walls, the plumbing and the mortgage holders.
Declining values leave homeowners feeling less wealthy and with less home equity to borrow against, and most of all - angry.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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