November 6, 2012

Fracking can hurt property values of nearby homes with wells, study suggests

Property owners near shale gas wells are liable to suffer a major loss in value because of worries over water contamination, according to economists from Duke University and the nonprofit research organization Resources for the Future.Their study found Pennsylvania homeowners who use local groundwater for drinking lost up to 24 percent of their property value if they are within a mile and a quarter of a shale gas well.

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