Mass transit increases property values?

Found this blog today with a very interesting story about the above subject –

Proximity to transit can affect property values in three somewhat different ways, one negative and two positive.

First, being located very close to a transit station or along a transit line tends to have negative effects, due to noise and air pollution from trains, and increased automobile traffic from users. These nuisance may reduce residential property values very close to a transit station or rail line. …

Second, it gives one location a relative advantage over other locations …

Third, transit can also increase overall productivity by reducing total transportation costs …
Read more here.

I wonder if the data would hold true for the Central VA region … thoughts, anybody? I would love to be able to take mass transit wherever I go. Sadly we neither have the system nor does my career allow for that luxury.

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