The Dow Jones industrial average rose more than 200 points yesterday morning -- after declines in oil prices were reported.

That gain was short-lived, as the DOW closed down 26.63 points.

Oil prices have been shown to have lingering effects on the housing market. Former head of the Economic Forecasting Center at Georgia State University, Donald Ratajcza, noted in a 2005 investing article, "Ultimately, rising energy prices are going to affect not only how we drive, but also where we build and how we consume energy in our businesses."

He couldn't have been more right. As oil prices have risen, commuters and homeowners have searched for alternate ways and places to live.

Though the dollar seems to have rebounded slighting in recent weeks, the New York Times reports, "Commodities prices fell across the board, with corn, wheat, coffee and sugar all recording sharp declines. Gold, a traditional hedge against the dollar, was off 4.2 percent. Silver and cocoa were the worst performers, with both raw materials down about 8 percent."

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Published: September 4, 2008

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