Commentary with CORE's Natalie Rakowski

Whether it’s a daily commute to the office or a Washington apple at the grocery store, gas prices are driving up other prices. We asked GlobeSt.com readers if higher transportation costs have affected them, and a solid 83% think paying at the pump is bumbling their business. Only 17% believe fuel expenses aren’t having an effect to the real estate industry. Natalie Rakowski, the managing director at CORE Group Marketing, spoke with Real Estate New York about how oil costs affect real estate.

“The numbers don’t surprise me, really. We have probably one of the busiest projects in the New York area. We get anywhere from 60 to 100 people to come out to our open houses on Sundays. I wouldn’t say gas prices have had a positive effect on traffic, but it certainly hasn’t made people stop looking or traveling over.

“As far as any changes I might have seen in my business, we have two projects in Manhattan and they’re both near mass transportation. I have seen an increase in traffic, and it is the summer, which is usually a slower time of year. I could venture to guess that people are perhaps looking at places closer to public transportation in Manhattan. So that’s possibly a different sort of impact that maybe people are looking at places that are slightly closer to transportation that they need.