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I saw this article at http://news.newsmax.com/?Z6Ov....b0O-yqNDDaSkQrktJUAZ. It's the fourth one down.

 

Surprise: New Walmart Stores Boost Nearby Home Values

A new study refutes the commonly held view that opening a Walmart store lowers the value of nearby properties — instead, it actually raises home values.

In a research paper by Devin G. Pope of the University of Chicago and Jaren C. Pope of Brigham Young University, the authors state: “Walmart often faces strong local opposition when trying to build a new store. Opponents often claim that Walmart lowers nearby housing prices.

“In this study we use over one million housing transactions located near 159 Walmarts that opened between 2000 and 2006 to test if the opening of a Walmart does indeed lower housing prices.”

The researchers found that a new Walmart store increases housing prices by between 2 and 3 percent for homes located within half a mile of the store.

They also found that the values of houses located between half a mile and one mile from the store rise 1 to 2 percent.

The increase in values was even more pronounced for those 86 cases in which the new store was a Walmart Supercenter.

The researchers stressed that through a number of statistical tests they were able to conclude that the data support a casual interpretation — that is, the opening of the Walmart store directly led to the rise in housing values.

Walmart currently operates more than 4,400 retail facilities in the United States alone, and employs almost 1.4 million people. Surveys indicate that 84 percent of American households shop at Walmart in a given year, and 42 percent report they are regular Walmart shoppers.

“The benefits to quick and easy access to the lower retail prices offered by Walmart” and to the stores that “naturally agglomerate nearby,” the authors conclude, “appear to matter more to households than any increase in crime, traffic and congestion, noise and light pollution, or other negative externalities that would be capitalized into housing prices.

“This result is useful to policymakers that consider passing zoning regulations and other laws that could affect Walmart’s ability to build new stores within their jurisdiction.”

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The fact is this: Walmarts GENERALLY increase property values in economically challenged 'hoods. The don't have much effect in middle class 'hoods and SOMETIMES bring home prices down in high-dollar places (we do not have any high dollar 'hoods in the Shoals). But the data is all over the place and depends on many variables.

This one will be a "standard" walmart, not a supercenter. I don't expect it will have much effect at all on values one way or another. I used on live in Heatherhurt and would have loved to have a Wallyworld close by.

The folks who's property borders the parking lot have no idea how good they have it. Private land owners have rights, too. They could have built an apartment complex or  other retail establishment that would NOT have granted them a nearly 200 foot barrier between the parking lot and back yards.

Originally Posted by Frankly:

The fact is this: Walmarts GENERALLY increase property values in economically challenged 'hoods. The don't have much effect in middle class 'hoods and SOMETIMES bring home prices down in high-dollar places (we do not have any high dollar 'hoods in the Shoals). But the data is all over the place and depends on many variables.

This one will be a "standard" walmart, not a supercenter. I don't expect it will have much effect at all on values one way or another. I used on live in Heatherhurt and would have loved to have a Wallyworld close by.

The folks who's property borders the parking lot have no idea how good they have it. Private land owners have rights, too. They could have built an apartment complex or  other retail establishment that would NOT have granted them a nearly 200 foot barrier between the parking lot and back yards.

I have not seen the study results, but I if the researchers just grandly agglomerated ALL the housing prices before and after Walmart arrived, the averages developed by that mode of analysis would not take into account major differences that occur among residential properties.  Are there some instances in which a Walmart actually drove prices down?  The article does not say.  Are there some instances in which house prices increases by well over 3 or 3 percent, thus pushing the overall average up? The article does not say.  Study methodologies matter a lot.

Originally Posted by The Raven:

I see you said, " I used on live in Heatherhurt and would have loved to have a Wallyworld close by.",  You move out of there because WallyWorld was moving in, and you were scared of your house value dropping?


Raven

___

"Heatherhurt"? Is that a painful place to live?  Sorry--couldn't resist that.

I lived there over 10 years ago. The only thing we had close by was the Winn Dixie. It was the most inconvenient neighborhood Florence. You can't get anywhere from there. That sentiment was share by many of my neighbors.


 . . . And gosh we are spoiled. Really. The Super Walmart was only, what, 4 more miles up the road? Still, it was inconvenient. Still, I would have loved to have a Wallyworld close by. Those who are protesting this are simply the squeaky wheel so they get the grease. I'd bet good money the vast majority on there are all for it. On top of all this, the development will finally open the Savannah Highway corridor for development. I wish I bought land out that way years ago.

Originally Posted by Frankly:

I lived there over 10 years ago. The only thing we had close by was the Winn Dixie. It was the most inconvenient neighborhood Florence. You can't get anywhere from there. That sentiment was share by many of my neighbors.


 . . . And gosh we are spoiled. Really. The Super Walmart was only, what, 4 more miles up the road? Still, it was inconvenient. Still, I would have loved to have a Wallyworld close by. Those who are protesting this are simply the squeaky wheel so they get the grease. I'd bet good money the vast majority on there are all for it. On top of all this, the development will finally open the Savannah Highway corridor for development. I wish I bought land out that way years ago.

Some of the squeaky wheels aren't crazy about the fact that another 2 Wal Marts WILL put some businesses out.  The retail/restaurant growth in Florence seems to be at a higher rate than the population/job growth.  Really, it's not like there's a military base BRAC situation in Florence with bunches of folks moving in.  New restaurants open, stuff like Sidelines, O'Charlie's, the bottom feeder restaurants end up closing.  Only so much money to go around.

Originally Posted by joeycuda2:

Some of the squeaky wheels aren't crazy about the fact that another 2 Wal Marts WILL put some businesses out. 

==================

So? You gonna stand up to every business who decides to open up shop because they might put someone out of business?

 

Its difficult to imagine which shops would close. I suppose the two grocery stores on the corner might feel some heat. Then again, people who hate the crowd at Walmart will still flock to Foodworld/land (or whatever its called). The Family Market is probably gone. That's not a bad thing. They are overpriced.

The Dollar (or Freds?) will be good to go. The Mexican restaurant is good. The liquor store will be good.The convenience store across the street from Wallyworld is prolly chomping at the bit to get Wally in ASAP.  Actually I can't think of any business other than the grocery store that will be adversely affected. Even those who are ARE affected will be replaced by other businesses that WM can't compete with as the place becomes more convenience that Savannah Hwy gets developed.

Don't like WM? Don't go there. But people who demand their government step in and thwart private commerce are simply . . . Well, goofy. Again, those people who border the WM parking lot in Heatherton don't know how good they got it. That land owner wants to develop the land. Government cannot tell them they cannot. It will be developed. Be thankful it with a company who will grant a 200 foot barrier between parking lot and houses. I can't imagine anyone else who would have done that..

Originally Posted by Frankly:
Originally Posted by joeycuda2:

Some of the squeaky wheels aren't crazy about the fact that another 2 Wal Marts WILL put some businesses out. 

==================

So? You gonna stand up to every business who decides to open up shop because they might put someone out of business?

 

Its difficult to imagine which shops would close. I suppose the two grocery stores on the corner might feel some heat. Then again, people who hate the crowd at Walmart will still flock to Foodworld/land (or whatever its called). The Family Market is probably gone. That's not a bad thing. They are overpriced.

The Dollar (or Freds?) will be good to go. The Mexican restaurant is good. The liquor store will be good.The convenience store across the street from Wallyworld is prolly chomping at the bit to get Wally in ASAP.  Actually I can't think of any business other than the grocery store that will be adversely affected. Even those who are ARE affected will be replaced by other businesses that WM can't compete with as the place becomes more convenience that Savannah Hwy gets developed.

Don't like WM? Don't go there. But people who demand their government step in and thwart private commerce are simply . . . Well, goofy. Again, those people who border the WM parking lot in Heatherton don't know how good they got it. That land owner wants to develop the land. Government cannot tell them they cannot. It will be developed. Be thankful it with a company who will grant a 200 foot barrier between parking lot and houses. I can't imagine anyone else who would have done that..

=================

Oh no, I'm not for the govt stepping in at all.  I just hate seeing smaller businesses like Big Star hurt by the Goliath retailer.  I think it's just business though.  I personally think that Wal Mart is a terrible grocery store, other than the prices. 

I live off Right(oxymoron) Drive, and last Tues or Wed, about later morning 0930 or so, you couldn't get across Cloverdale Road! Argue your traffic light(s), please and try to justify.

 

Actually I can't wait for it now, and hearing all the b*itchin of the traffic! We squeeky wheels can just sit back and enjoy the show.

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