Real-estate investors and developers, hungry for new areas for growth, are finding a lucrative and previously untapped market in these areas surrounding college campuses, one marked by low inventory, booming enrollment and an increasing appetite for luxury living.
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But even the best amenities won’t protect developers and owners if more students decide to live at home to save money, increasingly likely as students and parents cope with student debt. There is also the increasing availability of distance learning, which allows students to take classes without setting foot on campus.
Ai yi yi yi yi. These are our future leaders? We are doomed. Like! Doomed! Like!
At Purdue University, parents can pay to upgrade their kids’ dorm room from no-frills to whoa, thrills.
The newest dorm at Purdue now features flat screens, free laundry, maid service, private bathrooms, and no roommates.
Purdue’s dorms usually cost $9,000 a year. But it’s $14,000 for the new towers. Some parents say that’s a small price to pay.
Trend: The Luxury Dorm Room (The comments are hilarious.)
Ha! This is another example of MMTJ – More Money Than Judgement
No problem, of COURSE all those college grads will get jobs!
But perhaps a far more important secular issue is the complete lack of pickup in the prime worker demographic, those aged 25-54, which in November dropped by 400k to 94 MM. This is a level first breached in April 1997, in other words in the past 15 years not a single incremental job has been gained in this most productive and lucrative of age groups!