Posted by Leonard Steinberg of URBAN COMPASS on October 16th, 2014

Wall Street is lamenting lower oil prices, yet this delivers some great news for consumers: the average American consumes about 35 gallons of gas per week, or 140 gallons per month. If gas prices are down about 50 cent per gallon on average since June, the consumer now has about $70 more spending money per month. Granted this money will not be going to the oil companies, but it could come at a very good time to boost consumer spending in other areas. The US is a consumer-driven economy: when the consumer spends, our economy does well. A healthy economy is good for real estate which represents a big chunk of the economy. Lower gas prices are coming at a good time as the major shopping season approaches.