A Meta-Analysis of the Effect of Environmental Contamination and Positive Amenities on Residential Real Estate Values
Robert A. Simons
Cleveland State University
Texas A&M University
Journal of Real Estate Research, Vol. 28, No. 1, 2006
This paper addresses the effects of environmental contamination and positive amenities on proximate residential real estate property values in the United States. Contamination sources include leaking underground storage tanks, superfund sites, landfills, water and air pollution, power lines, pipeline ruptures, nuclear power plants, animal feedlots and several other urban nuisance uses. The study summarizes a literature review of 75 peer-reviewed journal articles and selected case studies, and generates a data set of about 290 observations that contain information about each study's loss (the dependent variable), with the independent variables being distance from the source, type of contamination, urban or rural environment, geographic region, market conditions and several other variables. Ordinary least squares is used to determine the effect of the contamination variables on reduction in property value. Broad contamination types, amenities, selected economic regions, distance from the source, information, research method and several other variables are statistically significant.
Number of Pages in PDF File: 34
Keywords: contamination, property value, environmental, residential
JEL Classification: K32, L11, L85, L52, L90, N50, O13, O18, O21Accepted Paper Series
Date posted: December 26, 2006
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
This page was processed by apollo2 in 1.203 seconds