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Daily Real Estate News  |  May 3, 2006  |   Suburban Buyers Urged to Factor in Gas Prices With gas prices soaring, Minneapolis housing activists are working hard to point out that the cost of driving to distant suburban locations negates any savings from lower home prices. With assistance from the Twin Cities-based McKnight Foundation and the Brookings Institute — a Washington, D.C., think tank — the Center for Neighborhood Technology is assembling a database to help people who are considering buying a home figure out what the commuting cost really will be. The City of Minneapolis hopes to work with real estate professionals to provide those numbers to prospective home buyers, right along with the purchase price. "It's as important a cost factor as the mortgage payment," says Mike Christenson, the city's economic development director. "Yet we believe people don't really price it out.” Source: Star-Tribune, David Peterson, Laurie Blake (05/01/2006)

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