How is the water crisis affecting Jackson’s estate?

JACKSON, Mississippi (WJTV) – The Central Mississippi Real Estate Association has sent a letter to Jackson Mayor Chokwe A. Lumumba asking him to find a solution to the city’s ongoing water problems.

Board Chairman Schneika Stokes said property values ​​in Jackson have fallen significantly, and problems with the city’s water system may continue to drive those values ​​down.

Stokes said people are hesitant to move to Jackson because of water issues such as low water pressure, boiling water notifications and raw sewage issues.

“Our clients are thinking about their own health, the health of their children and other family members, so I don’t think they want to buy in the city,” she said. We’re just losing them to the counties of Rankin and Madison counties.”

The water crisis is also reducing the value of both homes and properties. According to a recent National Association of Realtors real estate report, Jackson’s home is valued at $30,000 less than his other homes in Hines County.

Stokes said there are other reasons property prices are falling, but a letter sent to the mayor said research shows a striking relationship between house prices and water quality. Stated.

“Assets are losing value because people are not interested in living in areas with unsafe water,” Stokes said.

The association noted that people in Jackson have been receiving boiling water notices for most of the year due to high turbidity.

Stokes said people already living in Jackson could start leaving if a solution to the water crisis isn’t found soon.

“We’re already seeing an influx of people wanting to leave the city of Jackson and move to other areas of Hines County that are probably not on the water in the city,” she said.

The potential relocation of restaurants and businesses from Jackson could cause a decline in commercial real estate and have a significant impact on the city’s economy.

The Association of Realtors supports city leaders and wants to help find the best way to restore the city’s water system, Stokes said.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *