I thought that it would be appropriate to write a blog on gas prices and urban development as the price of oil jumped today to an unbelievable $140 a barrel.  Many experts predict that gas prices will continue to rise throughout the rest of the year.  If the price of a barrel of oil hits $150, a per gallon price could be as much as $7.00.  The continued increase in gas and the strain it is putting on a commuters cash flow will cause many to reconsider how far they live from work, and how often they use public transportation alternatives.  Experts predict that we will see this trend all over the United States for possibly the next 50 years.  It will cause most cities to rethink the effectiveness of its’ public transportation systems and growth of its’ urban areas.  This trend was outline in a comprehensive survey entitled:  Gas Prices: The Tipping Point Toward Better Development? ULI’s Nationwide Survey Explores Consumer Attitudes The Urban Land Institute had this to say on the topic:  “Higher gas prices are causing Americans to alter their driving habits and to either use or consider using transit if the option is available, according to a consumer survey released today by the Urban Land Institute (ULI). The survey results reinforce the need to build and rebuild urban regions in ways that offer alternatives to car-dependent development, according to representatives of the Institute.”  Particularly interesting in this survey was the conclusion that urban dwellers were far more likely to change their lifestyles to incorporate more environmentally conscious gas saving solutions.  “Residents in suburban and rural areas were more likely than those in urban areas to purchase a more fuel-efficient car. They were far less likely than urban residents to increase bicycling and walking, or to look for a home closer to work, suggesting that their current living environment is not conducive to transportation alternatives.”
As an urbanite myself, I can’t tell you how thankful I am in walking a couple hundred yards to work.  Everything from the grocery store, theaters, restaurants, and services are just around the corner.  This is infrastructure.  It is infrastructure that gives an urban community its’ price per square foot value.  In Downtown San Diego, the CCDC has done a very good job with the development of specific neighborhood infrastructure.  They did this even before we were on the verge of national gasoline crisis.  For those of you already living Downtown, it means that your property value will continue be in high demand.  For those of you not living in Downtown San Diego yet, what are you waiting for?