The Impact of Hazardous Waste Superfund Sites on the Value of Houses Sold in New Jersey
AbstractChanges in the sales prices of houses in 77 communities in New Jersey with hazardous waste Superfund sites were compared to sales prices in communities without Superfund sites. The authors observed a statistically significant tendency for sales prices in Superfund communities that were rural or were in regions undergoing rapid price increases to increase less than sales prices in non-Superfund townships. The hazard rating of the site did not appear to influence sales price. Factors that could make the results unique to New Jersey and alternative explanations of the results, including the scale of the study, are discussed.
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Bibliographic InfoArticle provided by Springer in its journal Annals of Regional Science.
Volume (Year): 26 (1992)
Issue (Month): 2 (June)
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Web page: http://link.springer.de/link/service/journals/00168/index.htm
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- Kiel, Katherine A. & Williams, Michael, 2007. "The impact of Superfund sites on local property values: Are all sites the same?," Journal of Urban Economics, Elsevier, vol. 61(1), pages 170-192, January.
- Muehlenbachs, Lucija & Spiller, Elisheba & Timmins, Christopher, 2013. "The Housing Market Impacts of Shale Gas Development," Discussion Papers dp-13-39, Resources For the Future.
- Katherine Kiel, 2006. "Environmental Contamination and House Values: A Study of Market Adjustment," Working Papers 0607, College of the Holy Cross, Department of Economics.
- Farber, Stephen, 1998. "Undesirable facilities and property values: a summary of empirical studies," Ecological Economics, Elsevier, vol. 24(1), pages 1-14, January.
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