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Academics
Keiser Co-authors Paper Published in American Economic Journal
David Keiser, professor in the Department of Resource Economics, recently published a research paper in the American Economic Journal.
In the article, Keiser and his co-authors find that the Flint, Michigan, drinking water crisis has led to significant and lasting impacts on Flint’s housing market.
The paper’s abstract reads:
“In April 2014 Flint, Michigan switched its drinking water supply from the Detroit water system to the Flint River as a temporary means to save $5 million. Over 18 months it was revealed that the switch exposed residents to dangerous levels of lead, culminating in an emergency declaration in October 2015. This paper examines the impact of this crisis on the Flint housing market. The value of Flint's housing stock has fallen by $520 million to $559 million despite over $400 million in remediation spending. Home prices remain depressed through August 2019, 16 months after the water was declared safe for consumption.”