Ms. McDonough knows some urban economics. Hedonic researchers continue to estimate "new news" real estate regressions. Whether the new news is the discovery of a Superfund Site, or SARS in Hong Kong, or a sex predator living in your neighborhood or now this, real estate economists measure how house prices change as the information is revealed. She posits that in this case the effect is a gain!"On Saturday morning, Sunny McDonough, 34, a hairstylist and accountant who lives in Watertown, brought her 3-year-old daughter to Dunkin’ Donuts for a treat after having been cooped up for so long.Ms. McDonough said she expected the ordeal to bring more people to Watertown. “Now we’re on the map,” she said. “And I think our property values are going to go up by 10 percent. Everyone knows where we are now, and they might be more inclined to visit and go to the diner and the stores. We’re really a safe, suburban community,” she said — and then caught herself and smiled. “Except for the terrorist hiding in the boat.”"
Watertown, MA and House Price Appreciation Caused by the Terrorist Manhunt?
I used to live in Belmont, MA. Belmont is adjacent to Watertown. Watertown now has some new notoriety for being "ground zero" in the recent manhunt. This NY Times article has the details and offers this quote;
