USA: NEW NJ-NY TRAIN TUNNEL BOOSTS HOME VALUES

The new rail tunnel between New Jersey and New York is expected to lift home values by 29000 dollars on average according to the Regional Plan Association’s report. The regional revenue from property taxes is estimated to rake in extra 375 million dollars to the benefit of public institutions. The new railway structure will cost USD 9 bln . It will run under the Hudson River and will be completed by 2018.