An EzineArticle by Luigi Frascati.
The last 150-200 years have been a period of extraordinarily cheap energy. Besides energizing almost all our methods of production, cheap fuels have also seriously distorted our way of living so that most of the middle-class section of the North American population live far away from their places of work.
“…energy is so important for real estate and real estate so important for our economy, that the impact of an energy crunch would be felt not only on real estate but would spread and engulf the entire economy and impact our very own way of living…”
“…The impact of this attitude has been felt not only on the ever-increasing prices people have been willing to pay throughout the years for the acquisition of real property assets that fulfill and complement their status satisfaction, but also on the very designs and architectures of homes and residential complexes…”