Home values stink.

Found an interesting article online this morning. If you don't like reading about bad economic news, don't read this or follow the link to SFGate.com... just a warning.

More than half (57 percent) of 1,573 homeowners surveyed now believe that their home lost value in 2008. That still lags the reality that 76 percent of all U.S. homes declined in value in 2008, according to Zillow's figures.

A full quarter of homeowners had the sunny view that their home's value had increased; in reality, 20 percent of homes did increase in value during the year, according to Zillow's reckoning. Another 18 percent insisted their homes' value was the same, while only 4 percent of homes actually kept their value, Zillow said.

Previous surveys showed homeowners mired deeper in denial, convinced that their own homes were immune to the nationwide plunge in real estate values that started about 2 1/2 years ago. Just six months ago, only 38 percent of people surveyed believed that their homes were declining in value.

Gas price miracle.

On my way to lunch today, I came across this glorious sight:


My apologies if you can't read it clearly; I was a couple of lanes away, so I couldn't get a really close shot. The price for unleaded has dropped to $2.99 9/10 at a local gas station. First time I've seen gas for "under" $3 in long time -- even if it IS just 1/10th of a penny less.

Hit us where it hurts.

This was a scary article on cnn.com today about gas prices. Scary, but not surprising:

NEW YORK (CNNMoney.com) -- With gas prices near record highs, experts say $4-a-gallon gasoline is just around the corner.

"I think it's going to happen," said Phil Flynn, a senior market analyst at Alaron Trading in Chicago. "Unless things change dramatically, I think we're going to see $4 a gallon."

Already, prices in California average $3.48 a gallon, according to the motorist organization AAA. And one service station in San Francisco was charging $3.95, according to GasBuddy.com, a handy site that lists the cheapest and most expensive gas stations by city and state across the country.

Refinery problems and strong demand are the two main reasons cited for the runup. Prices hit a record high of $3.07 a gallon, according to the Lundberg survey released Sunday.

Every time I read an article like this, it makes me more and more thankful that I drive a Honda Civic Coupe. And I pray more intensely for those of you who own SUVs.