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The Journal of Real Estate Finance and Economics

Erschienen in:

20.09.2021

House Price Capitalization of Stormwater Retention Basins: Evidence from Fresno-Clovis Metropolitan Area in California

verfasst von: Andres Jauregui, Qin Fan, Jacquelin Curry

Erschienen in: The Journal of Real Estate Finance and Economics | Ausgabe 4/2023

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Abstract

We extend the literature on the impact of stormwater retention basins on house prices and time on the market. Our results indicate that properties located closer to a basin sell at a discount relative to properties located farther away, but the impact is not linear. We further provide evidence that home buyers pay premium prices to be located closer to a basin in construction, yet as the basin ages, property prices decrease. Although stormwater basins provide benefits for the community, results suggest that proximate households generally bear the cost. In the locations adjacent to the basins, discount prices of proximate homes tend to be larger in low-income areas.

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Titel: House Price Capitalization of Stormwater Retention Basins: Evidence from Fresno-Clovis Metropolitan Area in California
verfasst von: Andres Jauregui
Qin Fan
Jacquelin Curry
Publikationsdatum: 20.09.2021
Verlag: Springer US
Erschienen in: The Journal of Real Estate Finance and Economics / Ausgabe 4/2023
Print ISSN: 0895-5638
Elektronische ISSN: 1573-045X
DOI: https://doi.org/10.1007/s11146-021-09860-2

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