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Environmental Externalities and Residential Property Values: Externalized Costs along the House Price Distribution

Environmental Externalities and Residential Property Values: Externalized Costs along the House... Abstract: This study examines the impacts of animal agricultural facilities on the value of residential housing. Through a quantile regression framework we are able to show that the estimated price impacts are not uniform across the distribution of housing prices, and a statistically significant relationship exists only for houses at or above median price levels. These estimated price impacts also increase as the percentile increases. For comparison, the model also includes the proximity to three other waste facility types: industrial, solid, and septic. Our dataset features 14,785 single-family residential transactions in Tippecanoe County, Indiana, over the period 1993-2006. (JEL Q51) http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Land Economics University of Wisconsin Press

Environmental Externalities and Residential Property Values: Externalized Costs along the House Price Distribution

Land Economics , Volume 88 (2) – Mar 1, 2012

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Publisher
University of Wisconsin Press
Copyright
Copyright by the Board of Regents of the University of Wisconsin System.
ISSN
1543-8325
Publisher site
See Article on Publisher Site

Abstract

Abstract: This study examines the impacts of animal agricultural facilities on the value of residential housing. Through a quantile regression framework we are able to show that the estimated price impacts are not uniform across the distribution of housing prices, and a statistically significant relationship exists only for houses at or above median price levels. These estimated price impacts also increase as the percentile increases. For comparison, the model also includes the proximity to three other waste facility types: industrial, solid, and septic. Our dataset features 14,785 single-family residential transactions in Tippecanoe County, Indiana, over the period 1993-2006. (JEL Q51)

Journal

Land EconomicsUniversity of Wisconsin Press

Published: Mar 1, 2012

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