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Property values forecast to recede alongside Great Lake water levels
Zone(s): Canada ¦ Sector(s): Property
Lake Huron is expected to be by far the hardest hit of the lakes, with property values there predicted to decline by some $612-million alone. The report, entitled Low Water Blues and conducted for the Council of the Great Lakes Region, warns that if water levels in the area remain near the low end of the historic range for sustained periods, the long-term economic impact across various sectors could total $18.82-billion by 2050.