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Article: Crime and property values.(influence of crime on real estate industry)
- Article from:
- Business Perspectives
- Article date:
- June 22, 2007
- Author:
CopyrightCOPYRIGHT 2007 University of Memphis. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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It is an unfortunate reality for the residents of Memphis that high on the list of local claims to fame--along with Blues, and Elvis--is crime. Memphis ranks 13th in crime per capita on a list of cities with populations of 75,000 and greater. Narrow that list to cities with populations of half a million or more residents, and Memphis jumps to 4th place. And, among Metropolitan Statistical Areas, the eight-county Memphis, TN-MS-AR region is second only to the Detroit area in terms of crime--hardly a silver medal any of us would like to hang from our mantles.
Despite recent reductions in crime--both violent and property crimes were ...