Water Contamination, Land Prices, and the Statute of Repose

John F. Chamblee, Carolyn A. Dehring, Craig A. Depken, Joseph Nicholson

Research output: Contribution to journalArticleResearchpeer-review

Abstract

We examine how water contamination risk from an inactive hazardous waste site is capitalized into surrounding vacant land prices. After public knowledge of the first instance of off-site contamination, we find that shallow groundwater contamination potential is negatively capitalized into land prices, as is proximity to a known contaminated well. Public knowledge of off-site contamination and associated land price changes occur after the North Carolina’s 10-year statute of repose. Our findings raise questions concerning such statutes when environmental contamination has a long latency period, especially given a recent Supreme Court ruling that Superfund law does not preempt state statutes of repose.

Original languageEnglish
Pages (from-to)398-414
Number of pages17
JournalJournal of Real Estate Finance and Economics
Volume51
Issue number3
DOIs
StatePublished - 10 Oct 2015

Fingerprint

environmental pollution
statute
water
hazardous waste
Superfund
Supreme Court
land
contamination
price
Contamination
Land prices
Water
Statute
groundwater
Law
off-site
public

Keywords

  • Hydrology
  • Pollution
  • Property values
  • Superfund

Cite this

Chamblee, John F. ; Dehring, Carolyn A. ; Depken, Craig A. ; Nicholson, Joseph. / Water Contamination, Land Prices, and the Statute of Repose. In: Journal of Real Estate Finance and Economics. 2015 ; Vol. 51, No. 3. pp. 398-414.
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Water Contamination, Land Prices, and the Statute of Repose. / Chamblee, John F.; Dehring, Carolyn A.; Depken, Craig A.; Nicholson, Joseph.

In: Journal of Real Estate Finance and Economics, Vol. 51, No. 3, 10.10.2015, p. 398-414.

Research output: Contribution to journalArticleResearchpeer-review

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