Abstract
This paper examines the economic impact of a tightly clustered complex of hog barns, a type of concentrated animal feeding operation (CAFO) on residential property in a rural area near Benton, KY. The facility creates noxious and offensive odors associated with swine-raising and waste disposal activities. Theory and practice indicate that, buyers would avoid purchasing a property believed to be contaminated or subject to effects of unsustainable environmental disamenities. Using hedonic regression analysis, results show price reductions of 23-32% for residential properties sold within 1.25 miles of the facility, and much larger losses northeast (downwind) of the facility.
| Original language | English |
|---|---|
| Journal | Journal of Sustainable Real Estate |
| Volume | 6 |
| State | Published - Jul 2014 |