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The Illinois Prairie Path as it passes through Elmhurst, Illinois. Photo by Clark Maxwell.
New research from two University of Cincinnati professors suggest that people are willing to pay more for a house near a multi-use trail. But research on this topic is hardly conclusive. There are studies that suggest the same, and others that suggest the opposite. Research is based on stated preferences (what people say they want; perception) or revealed preferences (using data that shows people’s choices; voting with your dollar). Continue reading People will pay more to live near a bike trail