What Metro Adds to Home Values
My first post-accident Metro ride was on Wednesday, two days after last week's horrible crash. As the train s-l-o-w-l-y pulled into the station, I felt sorry for the driver, who was practically alone in the front car. And then I joined the crowd boarding at the middle of the train. It seemed the logical choice, at least until investigators figure out what caused one train to crash into the back of another -- and how to keep it from happening again.
Now I'm wondering what would happen if our subway system -- for a long time so clean and safe that tourists saw it as a fun component of any trip to the nation's capital -- developed a lasting reputation as unsafe. Proximity to a Metro station adds real value to homes, especially if they're within walking distance. If Metrorail were to degenerate into just an old, littered, ride-at-your-own-risk subway, that premium could shrink.
What are your thoughts about Metro's contribution to local home values? Is the benefit diminished already?
June 29, 2009; 6:00 AM ET
Categories: Buying , Home features , Selling , The market
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