Abstract

http://ssrn.com/abstract=1922445
 
 

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The Influence of the Real Estate Market on Water Right Values in New Mexico’s Middle Rio Grande Basin


Matthew T. Payne


WestWater Research

Mark Griffin Smith


Colorado College - Department of Economics and Business

September 5, 2011


Abstract:     
Water markets in the western United States have expanded over the last 40 years driven by two forces – population growth in the West and Southwest and limited development of new storage projects. Until 2008 house prices, home construction and population growth appeared to be locked in an ever-increasing upward trend. With little historical experience to the contrary, water market prices similarly appeared to be driven by real estate development. The collapse of the housing market in the last three years provides an opportunity to examine the connection between the real estate and water markets.

Number of Pages in PDF File: 40

Keywords: water rights, real estate, New Mexico, Rio Grande

JEL Classification: Q25, R33

working papers series


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Date posted: September 5, 2011  

Suggested Citation

Payne, Matthew T. and Smith, Mark Griffin, The Influence of the Real Estate Market on Water Right Values in New Mexico’s Middle Rio Grande Basin (September 5, 2011). Available at SSRN: http://ssrn.com/abstract=1922445 or http://dx.doi.org/10.2139/ssrn.1922445

Contact Information

Matthew T. Payne
WestWater Research ( email )
1104 Main Street
Suite 610
Vancouver, WA 98660
United States
Mark Griffin Smith (Contact Author)
Colorado College - Department of Economics and Business ( email )
Colorado Springs, CO 80903
United States
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References:  46

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