now $3.48 a gallon. that s up 20 cents in just the past four weeks. and 30% since the beginning of 2010. experts say $4 a gallon gas is just a few months away. here s abc s cecilia vega. reporter: if you were driving, the predictions would make you slam on your brakes. just in time for memorial day weekend, the highest average gas prices this country has ever seen. for now the calm before the storm. reporter: prices that already seem sky-high are about to get even higher. one estimate has an average gas price of $4.05 a gallon by may. another predicts $4.15. that means by year s end american households with two cars could be shelling out as much as $300 more for gas than they did last year. and $4.15 a gallon for some american cities will seem like a bargain. big cities will be hit especially hard. in some cases because of higher taxes, in others because of their distance from refineries. chicago could reach $4.95 a gallon. san francisco $4.85. seattle $4.65.
fees. an illinois mother says her son s bank charged him $200 after he let the account drought to near zero. the small balance triggered a wave of fees. and she says bank officials refused to close the account until she paid the fees. gerri, you cannot let the balance get real low because then there are all kinds of charters, overdraft, and this is not new information. gerri: but it really stunned this kid. this kid, his mom wanted him to learn about money so he got a checking account. the balance fell to $4.85. right? so that triggers the positively fee because now he is below the limit you are supposed to have to have free checking and he is stung by a $9.95 monthly fee, and that makes the balance negative. and then that means you have overdraft fees. $28 a day. each and every day.
rerack it. stand by. we re going to talk now. not his fault, my fault. there was a tournament at the masters. greg norman lost a masters in 84/85, one of those years, it was the end, you knew greg norman would be cursed by that. how does a kid, i m curious, even though he s 21, does he ever go around aiming corner, does he ever get that monkey off his bat. he ll think about it. he s regarded by a lot of people, you hate to say it, the next tiger. tiger won his first at 21 years old. some people thought it would be the passing of the everyone to. he completely blew up. he had 60 million people watch him completely meltdown. i m curious, does that stay with you? there was a telecast of the masters yesterday, jim nance and weiskopf 75 masters.
october s median home price was $194,000, that s the lowest price in seven years. last month um to $213,000. now, let s just talk about the number affecting home sales and that is mortgages. the rate for a 30-year fixed mortgage, a rate to get if you have good credit and put 20% down on your house, 4.85%. why does that matter? because mortgage rates can entice you or deter you from buying a home. and knowing that, i want you to look at these graphics that i have got here. this is the rate of home ownership by country. here in the united states, the place that champions home ownership more than any developed country that i know of, home ownership is at 67%. in the united kingdom, 68%. canada, 68%. in australia, 70%. what are these countries doing differently to encourage more home ownership? more importantly, should we be encouraging home ownership?
charge would be okay with donald trump. it would start to get further away and would be fine. it would be a better location. if he could sell for a little profit, make lots of friends in doing it and go to another location where you wouldn t have the insensitivity. he would turn a real positive. he would turn this into a real positive. geraldo: donald trump thank you for your expert advice. sandy babs another big-time realtor. she joins us from the base in irvine, california. good deal, impossible deal? this property was actually on the market prior to the purchase in 2009 for $19 million and didn t sell. geraldo: you re right. and didn t sell. he paid 4.85 in 2009. geraldo: that is quite a steal. what a discount. is one of the factors, dani, that the area will be in construction probably in the