"In almost any management area, understanding human behavior and how humans respond to the lake or ecosystem being managed is as important as understanding the ecosystem itself," says Elena Irwin, associate professor in the Agricultural, Environmental, and Development Economics Department at Ohio State University. Irwin and fellow university researcher Tim Haab...found that both water clarity and quality correlated with increased property values, but "water clarity seems to have the biggest bang for the buck in terms of housing price," Irwin says..."If you increased the depth of water clarity by two meters, it was found to increase the average housing value by $4,300," she explains.
This is an increase of between four and five percent of the average home value in the study region. "The take-home message," Irwin says, "is that improved water clarity is a benefit. Lake managers should have the lake water quality in mind as they prioritize and make decisions and goals related to a healthy ecosystem."
From the Columbus Dispatch, today:
Cleveland's economy could get a boost of up to $3.7 billion if the federal government invests in a comprehensive effort to protect, restore and clean up the Great Lakes...The report released by the Brookings Institution on Wednesday concludes that Cleveland would enjoy a $2.1 billion to $3.7 billion economic lift, mainly in increased property values near Lake Erie.
