Sinking land is causing severe economic impacts in the San Joaquin Valley. Home prices in affected areas are estimated to be 2.4% to 5.4% lower due to subsidence, which translates to financial losses of $6,689 to $16,165 per home. The study conducted by UC Riverside revealed a total loss of $1.87 billion in home value across eight counties from 2015 to 2021. Researchers emphasized that this issue is linked to chronic groundwater overuse, establishing clear connections between subsidence and actual declines in property values.
"We were surprised because land subsidence is not like flooding or wildfires, which are much more visual and sudden. Land subsidence is a very slow problem."
"What this study does is tell us that it's not just ground sinking; it's a billion-dollar problem tied to decades of groundwater overuse."
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