Skantz, Terrance R.; Strickland, Thomas H. - In: Journal of Real Estate Research 2 (1987) 2, pp. 75-83
In this study, house-price reactions to a first-time disastrous flood are investigated. Conventional wisdom predicted prices would decline and later regain lost value as the market forgot the flood. In fact, sample home prices do not fall immediately after the flood and do not later rise. On the...