Thanks to data analysis by C.P. Morgan, IKE is wrapping up a report showing a dramatic drop in the value of owner-occupied property as you get closer to a stream regularly contaminated from CSOs. The drop in median property values may be as much as 30%. The analysis attempted to eliminate other variables.

One unusual note: the sales price is often more than 30% less than the list price in homes next to the stream. The difference is about 5% for streams farther away from the stream. Apparently, agents don’t consider sewage in nearby streams in setting list prices. IKE wonders if the owners realize the price they pay.