RT Journal Article SR Electronic T1 Toxic Assets: How the Housing Market Responds to Environmental Information Shocks JF Land Economics FD University of Wisconsin Press SP 66 OP 88 DO 10.3368/le.100.1.102122-0089R VO 100 IS 1 A1 Moulton, Jeremy G. A1 Sanders, Nicholas J. A1 Wentland, Scott A. YR 2024 UL http://le.uwpress.org/content/100/1/66.abstract AB Using national microdata from Zillow, we examine how U.S. housing markets respond to expanded information on local pollution stemming from a 1998 reporting change to the Toxics Release Inventory (TRI). Using both a difference-in-differences and a regression discontinuity in time design, we find that news coverage of the new TRI data lowered sales prices of homes near the largest reporting polluters but only within a tight geographic distance. Effects are isolated to homes within 0.5 miles of facilities reporting the largest amount of emissions (> 100 tons). This price capitalization implies public information on local polluters shifted private market behavior, suggesting a role for government as provider of information.