A large detailed data set is used to examine the relationship between housing prices and several environmental quality indicators representing air, water, and land influences. Our primary concern is the influence of waste site proximity on housing prices. The results indicate that individuals consider waste site proximity in their housing purchases, yielding a measurable price gradient with two important characteristics. First, the price gradient levels off with distance from the waste site. Second, distance from hazardous waste sites is more valuable than distance from nonhazardous waste sites. These results are relatively robust, remaining stable as estimated functional form and sample size varies.
Ordering information: This journal article can be ordered from Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323 http://aux.zicklin.b ... u/jrer/about/get.htm
Journal of Real Estate Research is currently edited by Dr. Ko Wang
More articles in Journal of Real Estate Research from American Real Estate Society Address: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323 Series data maintained by JRER Graduate Assistant/Webmaster ().