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An Empirical Investigation of Federal Wetlands Regulation and Flood Delineation: Implications for Residential Property Owners

Author

Listed:
  • Randall S. Guttery

    () (University of North Texas, UNT-Box 305339, Denton, TX 76203)

  • Stephen L. Poe

    () (University of North Texas, UNT-Box 305339, Denton, TX 76203)

  • C. F. Sirmans

    () (University of Connecticut, Box U-41RE, Storrs, CT 06269-2041)

Abstract

Since the early 1970s, the federal government has undertaken extensive efforts to stem the loss of wetlands by regulating the use of land. This paper investigates the extent to which residential property owners are affected by federal wetlands regulation, by presenting an empirical investigation of such economic consequences. Results suggest that because of the Supreme Court?s holding in United States v. Riverside Bayview Homes, Inc., sale prices of properties located in a wetlands area were discounted nearly eight percent, even after controlling for some sample properties being flood delineated.

Suggested Citation

  • Randall S. Guttery & Stephen L. Poe & C. F. Sirmans, 2004. "An Empirical Investigation of Federal Wetlands Regulation and Flood Delineation: Implications for Residential Property Owners," Journal of Real Estate Research, American Real Estate Society, vol. 26(3), pages 229-316.
  • Handle: RePEc:jre:issued:v:26:n:3:2004:p:229-316
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    Cited by:

    1. Samarasinghe, Oshadhi & Sharp, Basil, 2010. "Flood prone risk and amenity values: a spatial hedonic analysis," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 54(4), December.
    2. Samarasinghe, Oshadhi & Sharp, Basil M.H., 2008. "Flood prone risk and amenity values: a spatial hedonic analysis," 2008 Conference (52nd), February 5-8, 2008, Canberra, Australia 6013, Australian Agricultural and Resource Economics Society.

    More about this item

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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