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

18 Pages Posted: 28 Dec 2006

See all articles by Randall S. Guttery

Randall S. Guttery

University of North Texas - Department of Finance, Insurance Real Estate and Law

Stephen Poe

University of North Texas

C. F. Sirmans

Florida State University - Department of Risk Management, Insurance, Real Estate & Business Law

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 8%, even after controlling for some sample properties being flood delineated.

Keywords: wetland, regulation

JEL Classification: Q15, Q24, R14, R15, R52, O18, N4, N50, L98, K32

Suggested Citation

Guttery, Randall S. and Poe, Stephen and Sirmans, C. F., An Empirical Investigation of Federal Wetlands Regulation and Flood Delineation: Implications for Residential Property Owners. Journal of Real Estate Research Vol. 26, No. 3, 2004. Available at SSRN: https://ssrn.com/abstract=954016

Randall S. Guttery (Contact Author)

University of North Texas - Department of Finance, Insurance Real Estate and Law ( email )

Denton, TX 76203
United States
940-565-3073 (Phone)
940-565-4234 (Fax)

Stephen Poe

University of North Texas ( email )

1155 Union Circle #305340
Denton, TX 76203
United States

C. F. Sirmans

Florida State University - Department of Risk Management, Insurance, Real Estate & Business Law ( email )

Tallahasse, FL 32306
United States
850 644-4076 (Phone)

HOME PAGE: http://www.cob.fsu.edu/rmi

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