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 Volume 26, Number 3, 2004 of the Journal of Real Estate Research
Abstract: Since the
early 1970s, the federal government has undertaken extensive efforts to
stem the loss of wetlands by regulating the use of land. This paper
investigates the extent to which residential property owners are affected
by federal wetlands regulation, by presenting an empirical investigation
of such economic consequences. Results suggest that because of the Supreme
Court?s holding in United States v. Riverside Bayview Homes, Inc., sale
prices of properties located in a wetlands area were discounted nearly
eight percent, even after controlling for some sample properties being
flood delineated.
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