With all due respect, I do not believe that wind turbine syndrome has anything to do with “depression over property values”. They are distinctly separate issues. However, I have noted in my real estate studies, and expert testimony at zoning hearings on behalf of concerned citizens, that fear of health issues can be a detriment to marketing properties, in addition to aesthetic and noise issues, and the significant change of the character of the project areas….yes, even in the crop fields of Illinois.
When multiple homes in project areas could not be sold or even obtain one bona fide offer during the recent “peak” of market activity, despite 100+ showings, it does not take a crystal ball to conclude that current conditions of the real estate market will make homes in the shadows of turbines completely unmarketable.
I would add that President Obama should encourage all efforts to require the wind industry to insure the property values of homes (and land) in the project areas, and thus avoid a meltdown within a meltdown that will be unprecedented.
Let the wind developers carry thier own burden, and maybe set an example for Wall Street to follow!
Michael S. McCann
McCann Appraisal, LLC
500 North Michigan Avenue, Suite 300
Chicago, Illinois 60611