The Rose family owns a home in a semi-rural area, which is about five years old. Recently announced plans for a new regional airport will place their home directly in line with a main runway ending 1 mile before their home. If the airport is constructed, will this diminish the value of the Rose Home?

No, because noise from aircraft passing overhead is not recognized as affecting property values.
No, because value would increase due to the location close to the airport.
Yes, because of functional obsolescence.
Yes, because of economic obsolescence

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