One of the oft-repeated lies by anti-drillers is that shale drilling causes property values to tank. “No one wants to live near active drill sites with truck traffic and water contamination,” is what they say. Never mind that once the drilling is done (within a few months) the trucks are gone–and there is no water contamination. But still, perception is reality in this Alice-in-Wonderland time in which we live.
However, the realty reality in southwestern Pennsylvania, a very active Marcellus Shale drilling area, puts to bed the “lowers property value” lie by those who want to stop drilling. According to a Realtor from the RealtyTrac Network, sales of homes in SW PA are way up (12.5% per year), and property values are increasing throughout the region–by 2-4% annually. In other words, it’s a red-hot sellers market in SW PA. Why? You guessed it: the Marcellus Shale…
