MARK JOLLIFF
Member
- Joined
- Oct 23, 2003
- Professional Status
- Licensed Appraiser
- State
- California
The impact of high gas prices would be greatly minimized if Americans hadn't stretched themselves to the limit on personal debt. What is the average credit card debt per household? I forgot the exact figure but it's in the thousands. I'm paying more just like everyone else but I can absorb the costs due to living within my means for a long time. Sure i like $2 gas much better but I'm only paying $80 a month more than last year. If I had a $400 car payment and $15,000 in credit card debt then that $80 would hurt much more. people are downsizing their cars, driving less and shopping for bargains. If $4 gas makes people wake up and change their way of living then maybe this situation isn't all that bad.