The Benefits of Reducing Exposure to Waste Disposal Sites: A Hedonic Housing Value Approach
AbstractA large detailed data set is used to examine the relationship between housing prices and several environmental quality indicators representing air, water, and land influences. Our primary concern is the influence of waste site proximity on housing prices. The results indicate that individuals consider waste site proximity in their housing purchases, yielding a measurable price gradient with two important characteristics. First, the price gradient levels off with distance from the waste site. Second, distance from hazardous waste sites is more valuable than distance from nonhazardous waste sites. These results are relatively robust, remaining stable as estimated functional form and sample size varies.
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Bibliographic InfoArticle provided by American Real Estate Society in its journal Journal of Real Estate Research.
Volume (Year): 7 (1992)
Issue (Month): 3 ()
Contact details of provider:
Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
Web page: http://www.aresnet.org/
Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
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