Sim City: Built It
SIM City: Build It ********************************************************** Relevant Background on real estate value and location : “noise from a busy highway has a seriously negative impact on property value. This would seem especially true for individuals whose property is closer to the highway. However, the opposite may be the case— statistical models from one transit rail study showed that with every meter a house was located to a particular railway station, property values went up by $2.29. While this doesn’t seem like much, the study showed that houses immediately adjacent to the stations sold for 38% more. So is closer always better? Is there some truth to the classic economic theory—when a highway is initially built, large parcels of land that previously had poor accessibility – or none at all – are suddenly undervalued? Yes, it seems intuitive that if you go from limited transit access to the immediate proximity of modern transit, then your home value will increase....