Health & Fitness
WalMart and Home Prices
Many people are still upset about the new Encinitas WalMart.... however, the opening of a new WalMart actually RAISES the prices of homes nearby.... what are your thoughts about our new retail store?
Many people are still upset about the new Encinitas WalMart.... however, the opening of a new WalMart actually RAISES the prices of homes nearby. So why is that? According to a new study recently published in the National Bureau of Economic Research, it shows that houses within a half mile radius to a new Walmart increases 2-3% after the retail chain opens.
Researchers at the University of Chicago and Brigham Young University, examined the sale prices in the 2 1/2 year window before a new Walmart opened and then compared them with the sale prices in the 2 1/2 year window afterward. They found that the price increases did not seem to come from either a rush of new construction near the Walmart, nor did they come from building larger homes. It was mostly just access to shopping.
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My questions would be….. what does the increased traffic do for the quality of life in the surrounding neighborhoods? What are your thoughts about the new WalMart in Encinitas?
