RT Journal Article
SR Electronic
T1 Hurricane-Induced Discharges from Superfund Sites: A Hedonic Price Analysis of Real Estate Market Responses
JF Land Economics
JO Land Econ
FD University of Wisconsin Press
SP 030423-0019R1
DO 10.3368/le.101.1.030423-0019R1
A1 Asadi, Mehrnoosh
A1 Dubé, Jean
A1 Mozumder, Pallab
A1 Strobl, Eric
YR 2024
UL http://le.uwpress.org/content/early/2024/07/15/le.101.1.030423-0019R1.abstract
AB This study investigates the impact of Hurricane-induced discharges from Superfund sites on residents’ risk perception and housing values in Harris County, Texas. Employing a difference-in-difference Hedonic approach with property sales data from 2013 to 2019, we analyze how residents adjust their risk perception based on environmental hazard information and whether this affects the real estate market. Examining proximity to Superfund sites, we find a 27% reduction in price for houses located within half a mile of impacted sites, diminishing with distance. The findings provide valuable insights for enhancing hazardous waste management through targeted interventions, risk assessments, and response plans.