Real Estate and the Environment: An Introduction

Real Estate and the Environment: An Introduction 136 SEGERSON published here re¯ects this characteristic of the submission pool. Yet despite this heavy emphasis on hedonic models of housing prices, the hope is that this special issue will be a catalyst for a broad range of research bringing together insights from the ®elds of environmental and real estate economics. As the papers in this volume illustrate, the link between the environment and real estate crosses all three environmental media: land, water, and air. As noted above, an obvious land-based link stems from the impact of proximity to a noxious facility on the value (and hence price) of nearby houses. Of course, the price impact stems from the perceived negative impact of the facility on the health or the aesthetic pleasures of a household residing in a nearby house. The anticipation of these impacts can create opposition to the siting of the facility, a phenomenon well known as the NIMBY (not-in-my-backyard) syndrome. In this volume, Carol Mans®eld, George Van Houtven, and Joel Huber examine the factors that in¯uence the likelihood that an individual will oppose siting of a noxious facility, using a survey-based experiment in six East Coast cities. They then link these factors to those that in¯uence The Journal of Real Estate Finance and Economics Springer Journals

Real Estate and the Environment: An Introduction

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Kluwer Academic Publishers
Copyright © 2001 by Kluwer Academic Publishers
Economics; Regional/Spatial Science; Financial Services
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