Clear skies, dark waters: The Gulf oil spill and the price of coastal condominiums in Alabama

Autores/as

  • Christy Siegel Imperial College London
  • Steven B. Caudill Rhodes College
  • Franklin G. Mixon Center for Economic Education Columbus State University

DOI:

https://doi.org/10.17811/ebl.2.2.2013.42-53

Resumen

This study focuses on the effect on real estate prices of the oil spill in the Gulf of Mexico in 2010.  Based on previous studies on the effects of water contamination on real estate, it is likely that this oil spill, which was not capped for three months, had a drastic effect on real estate prices.  Using data on condominium prices in Orange Beach and Gulf Shores, Alabama, from January 2009 to September 2011, econometric tests suggest that there was a $25 per square foot decrease in condominium sale prices after the oil spill, representing a decline in value of 12.1 percent.

Biografía del autor/a

Franklin G. Mixon, Center for Economic Education Columbus State University

Professor of Economics

Center for Economic Education

Citas

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Publicado

2013-05-15

Cómo citar

Siegel, C., Caudill, S. B., & Mixon, F. G. (2013). Clear skies, dark waters: The Gulf oil spill and the price of coastal condominiums in Alabama. Economics and Business Letters, 2(2), 42–53. https://doi.org/10.17811/ebl.2.2.2013.42-53

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