RT Journal Article
SR Electronic
T1 The Impacts of Wildfires and Wildfire-induced Air Pollution on House Prices in the United States
JF Land Economics
JO Land Econ
FD University of Wisconsin Press
SP 102322-0093R
DO 10.3368/le.100.1.102322-0093R
A1 Huang, Zeying
A1 Skidmore, Mark
YR 2023
UL http://le.uwpress.org/content/early/2023/08/15/le.100.1.102322-0093R.abstract
AB We investigate the direct impact of wildfires on house prices as well as the indirect impact of wildfires through fine particulate matter (PM2.5) in the United States. We find that wildfires, particularly those occurring at a distance, have a statistically significant detrimental impact on house prices via PM2.5. We observe notable price discrepancies between houses situated upwind and downwind locations of wildfires. Areas with longer periods of wildfire absence and greater distances from the nearest wildfire correspond to higher property prices. Households value locations with ample greenery while remaining cognizant of wildfire risks.