What question did this study set out to answer?

To evaluate the economic impact of an existing toxic chemical waste landfill and a proposed low-level radioactive waste facility on surrounding residential property prices.

January 1, 1992Journal of Real Estate Research

Economic Effects of Hazardous Chemical and Proposed Radioactive Waste Landfills on Surrounding Real Estate Values

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Authors

GSGerald E. SmolenUniversity of Toledo GMGary S. MooreUniversity of North Carolina at Chapel Hill LCLawrence ConwayUniversity of Toledo

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Implication

Retrospective market analysis demonstrates property value depreciation near toxic chemical and proposed radioactive waste landfills, indicating substantial economic sensitivity to environmental...

Key Points

To evaluate the economic impact of an existing toxic chemical waste landfill and a proposed low-level radioactive waste facility on surrounding residential property prices.
Analyzed residential sales transaction data from 1986 to 1990 around the Envirosafe chemical landfill across distance bands up to 5.75 miles.
Assessed price fluctuations surrounding the 1989 announcement and subsequent cancellation of a proposed low-level radioactive waste repository.
Homes within 2.6 miles of the chemical landfill experienced significant negative price impacts, with home values increasing by a premium of $14,200 for each mile located further away.
The adverse effect of the chemical landfill diminished with distance and faded completely before reaching 5.75 miles from the facility.
The proposed radioactive waste site triggered an immediate drop in nearby home sales prices upon announcement, but prices rebounded after public opposition led to the cancellation of the project.

Cite This Study

Smolen et al. (1992) studied this question.

synapsesocial.com/papers/6a7c76ee66fdf7440826bc77 https://doi.org/10.1080/10835547.1992.12090681

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Implication

Retrospective market analysis demonstrates property value depreciation near toxic chemical and proposed radioactive waste landfills, indicating substantial economic sensitivity to environmental...

Economic Effects of Hazardous Chemical and Proposed Radioactive Waste Landfills on Surrounding Real Estate Values

Discussion

Member takes

Implication

Key Points

Cite This Study

Economic Effects of Hazardous Chemical and Proposed Radioactive Waste Landfills on Surrounding Real Estate Values

Discussion

Member takes

Implication

Key Points

Cite This Study

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