I have no doubt that the high gas prices have effected the economy and how people spend their money. However, the biggest problem overall is people overspending beyond their means. I bought my house 6 years ago and I couldn't believe how much I was pre-qualified for. Um, I'd like to have a life outside of paying for my mortgage payment, thank you. However, some people of course took advantage of every penny of credit thrown their way, especially with those ARMs the banks coaxed them with.

What you're hearing about now are the credit problems and the foreclosures. Sure, I know some are affected through job loss, but most are affected because they overspent to begin with.

If I were a betting person, I'd put money on gas prices going down once George W is out of office.