According to a study conducted by the University of Chicago and the University of British Co-lumbia, a buyer’s belief in climate change is having an impact on the prices of a particular neighbor.
Disputing the Facts
Lorenzo Garlappi, UBC Sauder School of Business’s finance professor and co-author of the study does not agree with this study. Reasons:
- The study was conducted in the US market and cannot be said to define Canadian inten-tions as Canadians aren’t that easily swayed by beliefs.
- The price differentiation is prominently visible only in owner-occupied units.
Garlappi also said that unless the climate change debate really picks up and changes people’s perception, this conclusion might not much weight in Canada.