JOHNSON, Circuit Judge:
Plaintiffs contend that the defendant Austin Transportation Study Policy Advisory Committee of Austin, Texas, a planning group at the local level, violated federal statutes codified at 23 U.S.C. § 134 and 49 U.S.C. § 1607 chiefly by failing to give due consideration to social, economic, and environmental goals when the Committee devised and endorsed an overarching transportation plan. The Committee challenges Plaintiffs’ right of action. After considering issues of standing and ripeness, we reject Plaintiffs’ contention that these sections supply an implied private right of action under the instant circumstances and affirm the district court’s judgment dismissing Plaintiffs’ complaint.
I. Facts and Procedural History
A. The Parties
Six plaintiffs bring this action. First, the Allandale Neighborhood Association is allegedly a corporation comprising as members both individuals and businesses in the Allandale neighborhood of Austin, Texas. Second, the Koenig Lane Business Association allegedly has as members the owners and employees of small businesses in the area of Koenig Lane in Austin. Third, the Save Barton Creek Association is alleged to be a corporation active in the preservation of water quality in the Austin area. Fourth, the Sierra Club is alleged to be a corporation active in the preservation of the natural environment with members in the Austin area. Fifth, the Texas Association for Public Transportation is alleged to be a corporation that conducts research and educational activities concerning public transportation in Austin. The sixth and final Plaintiff, the Tonkawa Springs Home[260]*260owners Association, is not a party to this appeal.
The sole defendant is the Austin Transportation Study Policy Advisory Committee (Committee). The Committee is alleged to be a metropolitan planning organization called into being by the Governor of Texas. The Committee is allegedly charged with developing a transportation plan for an area covering parts, including Austin, of four Texas counties.
B. Plaintiffs’ Claims
Plaintiffs allege that, in March 1986, the Committee formally endorsed a new Transportation Plan for the Austin Metropolitan Area (Austin Transportation Plan). According to Plaintiffs, the Committee’s process for developing the Austin Transportation Plan was deficient in two respects. First, the process allegedly was not cooperative and comprehensive; was not formulated on the basis of transportation needs; and most important, did not give due consideration to comprehensive long-range land use plans, to development objectives, to the Plan’s probable effect upon the future development of the Austin urban area, and to overall social, economic, environmental, system performance, and energy conservation goals and objectives. Second, some of the Committee members allegedly showed prejudgment and substantial bias. Plaintiffs assert that these allegations of fact show violations of the federal statutes codified at 23 U.S.C. § 134 and 49 U.S.C. § 1607 and, further, that these allegations state a claim or claims for relief under these statutes. Finally, Plaintiffs seek a judgment declaring the Austin Transportation Plan in violation of these statutes and enjoining the Committee to refrain from endorsing programs or projects inconsistent with the transportation plan that preceded the Austin Transportation Plan of March 1986.
C. The District Court
The Committee moved the district court to dismiss Plaintiffs’ complaint and, alternatively, for summary judgment. The Committee tended to state these alternative grounds in support of its motion: (1) Plaintiffs lack standing; (2) their claim or claims are not ripe; (3) Plaintiffs have no right of action to assert their claims; and (4) even if they do have a right of action then, on the merits of their claims, Plaintiffs’ factual allegations show no violation of 23 U.S.C. § 134 and 49 U.S.C. § 1607.
The district court granted the Committee’s motion to dismiss, ruling that Plaintiffs have no right of action and, further, that Plaintiffs lack standing and that their claim or claims are not ripe. Five of the six Plaintiffs appeal. For the reasons assigned below, we affirm the dismissal.
II. Discussion
This appeal potentially presents for decision a familiar cluster of preliminary issues: standing, in both its constitutional dimension and its prudential or subconstitu-tional dimension; ripeness, likewise in both its constitutional and its prudential or sub-constitutional dimensions; and the right of action issue. We endeavor, not only to decide the issues as necessary, but to establish a principled sequence for decision-making.
For reasons given below, we decide first the issue or issues of standing and ripeness in their constitutional dimensions. Having determined constitutional standing and constitutional ripeness, we next decide the right of action issue. Finally, determining the right of action issue against Plaintiffs, we need not reach any remaining issue of subconstitutional standing or subconstitu-tional ripeness.
A. Constitutional Standing and Constitutional Ripeness
1.
Constitutional standing, sometimes called Article III standing, is said to form “part” of “the constitutional limitation of federal-court jurisdiction to actual cases or controversies.” 1 Similarly, to “the extent that [261]*261‘issues of ripeness involve, at least in part, the existence of a live “Case or Controversy,” ’ ”2 ripeness too presents a jurisdictional question.3
On the other hand, the subconstitutional standing4 and right of action issues are facets of the same inquiry “whether the constitutional or statutory provision on which the claim rests properly can be understood as granting persons in the plaintiffs position a right to judicial relief.”5 In other words, they ask whether, assuming the claim on the merits is valid, this plaintiff has a right to assert the claim in court. Similarly, the subconstitutional ripeness issue asks whether the plaintiff has a right to assert the claim now or only later.6 These issues do “not [present] a question of jurisdiction.”7
We turn then first to the jurisdictional issues of constitutional standing and constitutional ripeness. The Supreme Court has stated that circumstances satisfying the constitutional standing requirement also “would appear to satisfy [the ripeness] requirement” to the extent the ripeness requirement derives from the constitutional requirement of a case or controversy.8
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JOHNSON, Circuit Judge:
Plaintiffs contend that the defendant Austin Transportation Study Policy Advisory Committee of Austin, Texas, a planning group at the local level, violated federal statutes codified at 23 U.S.C. § 134 and 49 U.S.C. § 1607 chiefly by failing to give due consideration to social, economic, and environmental goals when the Committee devised and endorsed an overarching transportation plan. The Committee challenges Plaintiffs’ right of action. After considering issues of standing and ripeness, we reject Plaintiffs’ contention that these sections supply an implied private right of action under the instant circumstances and affirm the district court’s judgment dismissing Plaintiffs’ complaint.
I. Facts and Procedural History
A. The Parties
Six plaintiffs bring this action. First, the Allandale Neighborhood Association is allegedly a corporation comprising as members both individuals and businesses in the Allandale neighborhood of Austin, Texas. Second, the Koenig Lane Business Association allegedly has as members the owners and employees of small businesses in the area of Koenig Lane in Austin. Third, the Save Barton Creek Association is alleged to be a corporation active in the preservation of water quality in the Austin area. Fourth, the Sierra Club is alleged to be a corporation active in the preservation of the natural environment with members in the Austin area. Fifth, the Texas Association for Public Transportation is alleged to be a corporation that conducts research and educational activities concerning public transportation in Austin. The sixth and final Plaintiff, the Tonkawa Springs Home[260]*260owners Association, is not a party to this appeal.
The sole defendant is the Austin Transportation Study Policy Advisory Committee (Committee). The Committee is alleged to be a metropolitan planning organization called into being by the Governor of Texas. The Committee is allegedly charged with developing a transportation plan for an area covering parts, including Austin, of four Texas counties.
B. Plaintiffs’ Claims
Plaintiffs allege that, in March 1986, the Committee formally endorsed a new Transportation Plan for the Austin Metropolitan Area (Austin Transportation Plan). According to Plaintiffs, the Committee’s process for developing the Austin Transportation Plan was deficient in two respects. First, the process allegedly was not cooperative and comprehensive; was not formulated on the basis of transportation needs; and most important, did not give due consideration to comprehensive long-range land use plans, to development objectives, to the Plan’s probable effect upon the future development of the Austin urban area, and to overall social, economic, environmental, system performance, and energy conservation goals and objectives. Second, some of the Committee members allegedly showed prejudgment and substantial bias. Plaintiffs assert that these allegations of fact show violations of the federal statutes codified at 23 U.S.C. § 134 and 49 U.S.C. § 1607 and, further, that these allegations state a claim or claims for relief under these statutes. Finally, Plaintiffs seek a judgment declaring the Austin Transportation Plan in violation of these statutes and enjoining the Committee to refrain from endorsing programs or projects inconsistent with the transportation plan that preceded the Austin Transportation Plan of March 1986.
C. The District Court
The Committee moved the district court to dismiss Plaintiffs’ complaint and, alternatively, for summary judgment. The Committee tended to state these alternative grounds in support of its motion: (1) Plaintiffs lack standing; (2) their claim or claims are not ripe; (3) Plaintiffs have no right of action to assert their claims; and (4) even if they do have a right of action then, on the merits of their claims, Plaintiffs’ factual allegations show no violation of 23 U.S.C. § 134 and 49 U.S.C. § 1607.
The district court granted the Committee’s motion to dismiss, ruling that Plaintiffs have no right of action and, further, that Plaintiffs lack standing and that their claim or claims are not ripe. Five of the six Plaintiffs appeal. For the reasons assigned below, we affirm the dismissal.
II. Discussion
This appeal potentially presents for decision a familiar cluster of preliminary issues: standing, in both its constitutional dimension and its prudential or subconstitu-tional dimension; ripeness, likewise in both its constitutional and its prudential or sub-constitutional dimensions; and the right of action issue. We endeavor, not only to decide the issues as necessary, but to establish a principled sequence for decision-making.
For reasons given below, we decide first the issue or issues of standing and ripeness in their constitutional dimensions. Having determined constitutional standing and constitutional ripeness, we next decide the right of action issue. Finally, determining the right of action issue against Plaintiffs, we need not reach any remaining issue of subconstitutional standing or subconstitu-tional ripeness.
A. Constitutional Standing and Constitutional Ripeness
1.
Constitutional standing, sometimes called Article III standing, is said to form “part” of “the constitutional limitation of federal-court jurisdiction to actual cases or controversies.” 1 Similarly, to “the extent that [261]*261‘issues of ripeness involve, at least in part, the existence of a live “Case or Controversy,” ’ ”2 ripeness too presents a jurisdictional question.3
On the other hand, the subconstitutional standing4 and right of action issues are facets of the same inquiry “whether the constitutional or statutory provision on which the claim rests properly can be understood as granting persons in the plaintiffs position a right to judicial relief.”5 In other words, they ask whether, assuming the claim on the merits is valid, this plaintiff has a right to assert the claim in court. Similarly, the subconstitutional ripeness issue asks whether the plaintiff has a right to assert the claim now or only later.6 These issues do “not [present] a question of jurisdiction.”7
We turn then first to the jurisdictional issues of constitutional standing and constitutional ripeness. The Supreme Court has stated that circumstances satisfying the constitutional standing requirement also “would appear to satisfy [the ripeness] requirement” to the extent the ripeness requirement derives from the constitutional requirement of a case or controversy.8
Accordingly, we may turn then to the requirement of constitutional standing. In order to have constitutional standing, a “plaintiff must allege [1] personal injury [2] fairly traceable to the defendant’s allegedly unlawful conduct and [3] likely to be [262]*262redressed by the requested relief.”9 In other words, the plaintiff must allege injury, causation, and redressability.
2.
Plaintiffs in the present case allege that the Austin Transportation Plan foresees the conversion of Koenig Lane in Austin into a six-lane highway. Plaintiffs make two sets of allegations (a. & b.) concerning this planned highway in order to show constitutional standing.
a.
First, the two Plaintiffs Allandale Neighborhood Association and Koenig Lane Business Association allege that the mere existence of the Austin Transportation Plan with its provision for the highway at issue has already depressed the market values of properties10 owned by members 11 of these Plaintiffs. The causation and redressability elements would seem to be satisfied. The Committee’s assertedly unlawful procedures produced the Austin Transportation Plan and its provision for the highway. The existence of the provision for the highway has caused the market to reassess at a lower level the values of properties in neighborhoods through which the planned highway will pass. Moreover, Plaintiffs’ requested relief, by disrupting the Austin Transportation Plan (and its provision for the highway) and by restraining the Committee from acting upon the Plan, would cause the market once again to reassess property values and this time to place them at their former higher levels. Remaining is the question whether these Plaintiffs have alleged a sufficient injury.
We accept the allegation of presently depressed property value as a sufficient injury for the purposes of constitutional standing. As a “pocketbook” injury, it is akin to the “direct dollars-and-cents injuries]” routinely accepted as sufficient for constitutional standing purposes.12 To be sure, such a loss remains in one sense unrealized until the property is sold. Nevertheless, a market devaluation has present adverse consequences short of realization through sale. The knowledge that sale of the property may bring in fewer proceeds will influence and restrict the willingness to sell. Further, a market devaluation will lessen the property owner’s eligi[263]*263bility for loans secured by the property. Finally, we acknowledge that other courts have accepted depressed property value as a sufficient injury for constitutional standing purposes.13
We conclude therefore that these two Plaintiffs have satisfied the constitutional standing requirement (and, with it, any constitutional ripeness requirement14).
b.
Second, all five Plaintiffs on appeal allege to varying degrees that the construction and operation of the six-lane highway will have deleterious social, economic, and environmental effects upon their members. Since two of the Plaintiffs have constitutional standing under the first set of allegations already considered, we need not consider15 whether this second set of allegations also supports constitutional standing.16
B. Right of Action, Subconstitutional Standing, and Subconstitutional Ripeness
Two issues remain for decision: (1) whether Plaintiffs Allandale Neighborhood Association and Koenig Lane Business Association have a right of action (and whether any subconstitutional standing limitation applies) and (2) whether these Plaintiffs’ claim or claims are ripe in a subconstitu-tional sense.
Ripeness, as noted, governs whether the litigant has a right to assert the claim now or only later. In making that ripeness [264]*264determination, the court must “evaluate both the fitness of the issues for judicial decision and the hardship to the parties of withholding court consideration.” 17 In the present case, the issues whose fitness for judicial decision is implicated by the ripeness inquiry concern, not Plaintiffs’ asserted right of action, but rather their assertions on the merits of their claim or claims.18 We turn then first to the right of action issue.
Plaintiffs do not suggest or rely upon any statute that “explicitly create[s] a private enforcement mechanism” to enforce the Committee’s asserted duties under 23 U.S.C. § 134 and 49 U.S.C. § 1607;19 thus, the question “is whether such a private right of action can be implied” for these Plaintiffs.20
[265]*265In determining whether a private right of action is implied in the federal statute, “our focal point,” the Supreme Court instructs, is
Congress’ intent in enacting the statute. As guides to discerning that intent, we have relied on the four factors set out in Cort v. Ash, see 422 U.S. 66, 78 [95 S.Ct. 2080, 2087, 45 L.Ed.2d 26] (1975), along with other tools of statutory construction.[21]
Cort’s first factor asks whether “the plaintiff [is] ‘one of the class for whose especial benefit the statute was enacted.’ ”22 Plaintiffs contend chiefly that the statutes at issue required the Committee to give “due consideration to ... overall social, economic, [and] environmental ... goals.”23 Plaintiffs’ members,24 as individuals residing and working and businesses near the site of the proposed highway, may benefit from any due consideration given to social, economic, and environmental goals. Further, since they may suffer greater harm than those who are farther removed from the site, Plaintiffs’ members may reap greater benefit from any due consideration given to social, economic, and environmental goals. Nevertheless, Plaintiffs have not demonstrated that Congress, when enacting 23 U.S.C. § 134 and 49 U.S. C. § 1607, singled out for special concern or favor from all the direct and indirect beneficiaries of these sections those individuals and businesses in close proximity to the site of a proposal in a transportation plan.
Cort’s second factor asks whether there is “any indication of legislative intent, explicit or implicit, either to create ... a remedy or to deny one.”25 Plaintiffs argue that, when Congress in 1978 amended 23 U.S.C. § 134 and 49 U.S.C. § 1607 to include a duty to give due consideration to social, economic, and environmental goals, federal courts had already recognized an implied private right of action to enforce the assertedly similar provisions in 23 U.S. C. § 138 concerning transportation plans, programs, and projects affecting park-lands. Plaintiffs conclude that Congress must have intended federal courts to recognize an implied private right of action to enforce 23 U.S.C. § 134 and 49 U.S.C. § 1607 as well.26
We reject the premise that federal court case law had by 1978 recognized an implied private right of action to enforce 23 U.S.C. § 138 against planners at the local level such as the Committee for their activity in developing and endorsing an overarching transportation plan. We therefore need not reach the remaining parts of Plaintiffs’ argument here.
To establish the premise that such an implied private right of action had been recognized by 1978, Plaintiffs rely upon this Circuit’s decision in Louisiana Environmental Society, Inc. v. Coleman.27 Insofar as it involves 23 U.S.C. § 138, the [266]*266Coleman opinion is devoted to reviewing the district court’s review of the so-called “§ 4(f) determination required by 23 U.S.C. § 138 and 49 U.S.C. § 1653(f),”28 a determination made by the United States Secretary of Transportation when approving a particular program or project — not an overarching transportation plan as in the present case. Moreover, the opinion does not address the Coleman plaintiffs’ right to seek judicial relief from the Secretary’s determination. It may be that the issue of their right of action was not addressed because it had not been raised.29 In any event, it seems evident from the Court’s case citations and from the district court opinion30 that the Coleman plaintiffs sought judicial review of the Secretary’s determination under the Administrative Procedure Act (APA).31 For the same or similar reasons, Plaintiffs’ other cases32 do not show that federal courts had by 1978 recognized an implied private right of action to enforce 23 U.S.C. § 138 against planners at the local level such as the Committee concerning their development and endorsement of an overarching transportation plan.
Cort’s third factor asks whether it is “consistent with the underlying purposes of the legislative scheme to imply ... a remedy for the plaintiff.”33 Plaintiffs argue that an implied private right of action for “special interest organizations” or their members is consistent with underlying legislative purposes because such organizations “are the logical repository of power to assure” the Committee’s compliance with statutory requirements. Plaintiffs’ tenet here is, however, far from clear in the present legislative scheme. That scheme envisions a “continuing, cooperative, and comprehensive” planning process[267]*26734 involving multiple administrative actors besides the Committee. The continuing and cooperative element of the process may call upon these other actors to bring to the Committee’s attention deficiencies in its performance and to request remedy if necessary. Judicial intervention against the Committee, at least at this early stage (Committee endorsement of the overarching transportation plan), might truncate that process. In any event, the Supreme Court has stated that Cort’s third and fourth35 factors “are only of relevance if the first two factors give indication of congressional intent to create the remedy.”36
We conclude that Plaintiffs have failed to demonstrate that there is implied in 23 U.S.C. § 134 and 49 U.S.C. § 1607 a private right of action for them to enforce these statutes against the Committee for its activity in developing and endorsing the Austin Transportation Plan.
III. Conclusion
We conclude that two Plaintiffs satisfy the constitutional standing requirement and that their claims satisfy any constitutional ripeness requirement and do not reach the other Plaintiffs’ constitutional standing and the constitutional ripeness of their claims. Further, we conclude that these two Plaintiffs have failed to demonstrate an implied private right of action in their favor under 23 U.S.C. § 134 and 49 U.S.C. § 1607 to enforce these statutes against the Committee for its activity in developing and endorsing a transportation plan. We therefore need not reach any remaining issue of subconstitutional standing or subconstitutional ripeness. On the basis of these conclusions, the judgment of the district court dismissing Plaintiffs’ complaint is
AFFIRMED.