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CWT

Clean Water and Land Markets

The growing population and increased consumption rates of the last hundred years make clear that we no longer have the luxury of using economic models that externalize environmental costs as if natural resources were infinite. The rapidly growing population in North Carolina- estimated to increase by 50% over the next quarter century and affect up to 8 million acres of natural land- is a prime natural laboratory to study the impacts of environmental regulation and ecosystem services on land values.

Chamblee, John F., Carolyn A. Dehring, and Craig A. Depken. 2009. Watershed development restrictions and land prices: Empirical evidence from southern Appalachia. Regional Science and Urban Economics 39:287-296.
Dehring, Carolyn A. and Craig A. Depken, 2010. Sharing the Burden of Water Supply Protection. Regulation: 36-40.
Dr. John Chamblee
Development restrictions to protect water quality in the Ivy River Watershed near the Coweeta LTER have negatively impacted property values amongst residents, though the nearby city of Asheville, which benefits from better water quality because of the restrictions, has seen a rise in property values
Chamblee et al. 2009
The effect of minimum 2-acre lot restrictions on land prices in the watershed near the Coweeta LTER with development restrictions and on properties not in the watershed, but benefiting from enhanced water quality from development restrictions in the other watershed. Effects are shown before and after the protective ordinance was established.

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