Average house price in the US, Aug 2006:
$230,000
Average house price in the UK, Aug 2006: $376,600
Average gas price per gallon in the US, Aug 2006: $3.04
Average gas price per gallon in the UK, Aug 2006: $6.46
There will almost certainly be a recession in the US soon, caused primarily by inflated gas and house prices. One will continue to go up and the other will crash – a problem for people who own houses and drive cars, i.e. are long in real estate and short on gas.
But these prices are actually very, very cheap compared to places like the UK, which didn’t go into recession with much larger costs and similar wages. The principal difference being the rate of consumption.
average home sales prices in all regions of the united states