Getting back to the original posters question, I think the impact on property valuations will be minimal unless your property is near the high speed route or stations. In that case there will be a negative effect but it will depend on the environmental impact.

As for the thoughts on the high speed rail itself I think that EconProf nailed it square on the head. That and I tend to agree with FEK.

Of course the headlines are littered with cases of massive projects that always come in underbudget correct?

The reality of the situation is what Econprof said. Now if govt FORCES you to take the train, then things may change. So much for liberty…

I think all that money would be better spent developing more energy efficient individual modes of transport.

I am not as much against mass transport as I am for applying solutions that fit the practical and more real parameters of the society.