Years After School Shootings, Property Prices Are Still Down
As these tragedies have crept into otherwise quiet American suburbs in recent years, they’ve left an unforeseen consequence, OZY reports: falling house prices. Researchers studying shooting-affected areas found that the average house price dropped around $15,000, and that homes with more bedrooms — those most likely to include school-age children — saw the steepest declines. They point to stigma, rather than safety, as a likely cause.
How big is the impact? The U.S. property market loses an estimated $2.3 billion annually because of homicides that have affected homes or neighborhoods.