No joke, $16,000 a year for a room at OSU? For the same price you could buy a house off campus, and sell the house when you graduate. Unfortunately that's not possible for the vast majority of students. So instead they will just get fleeced by these schools while beieng told "this is the best four years of your life."
Uuuuuhh, that is what nearly everyone IS going to have happen even after they die. The gold rule. "Who run Bartertown?" "It's a big club and you ain't in it."
The universities brag about fancy dorms but ignore the reality that most students just want a basic room they can afford without going into debt. I started college almost 20 years ago when these new “apartment style residence halls” were just starting to take over. The older dorms I lived in had vibrant social communities because you couldn’t help but interact with other students. The newer style buildings were always much quieter and people kept to themselves. Aside from affordability, people seemed happier and more social in the cheap dormitories because the design encouraged students to leave their rooms during the day and go to common spaces.
It's tough to simply blame high rooming costs on the shift from dorms to apartment style units. The traditional dorms are often only a couple hundred dollars cheaper per month than the on-campus apartments. The on-campus apartments often still have shared bedrooms, whereas my college roommates and I were able to find a spacious, 4-bedroom apartment off-campus which was dramatically cheaper per person per month than anything the school offered, even with each person getting his own room. And we did this living in one of the most expensive cities in America.
I work in university housing. The community you mention is definitely more prevalent in our traditional dorm style housing. However we have noticed the demand for this housing declining significantly whereas the demand for our suite and apartment style housing has skyrocketed, we are consistently sold out of these rooms while dorm styles routinely have vacancies. We definitely don’t have high end or fancy dorms, but even despite slightly higher pricing students continue to gravitate towards the more modern offerings. Most schools are really just conforming to market demands!
My dorm room was bare concrete block walls, a couch-bed, a desk, chair & lamp. The college experience was in fact hanging with others in my major and the mix of others on the floor, in the TV lounge or in the dining hall.
i feel it's also the kids themselves and no one talks to each other anymore unless your from the same hometown and sometimes from the same high school. From what it seems to me and csu Chico was everyone was from the bay area, or la or southern California. People moved there with their friends from high school in a 4/2 or 2/1 and moved around in the years then go home to their parents or lived with their high school friends in apartments like the university dorms. I graduated with my bachelors finally after trying off and in for nearly 18 years but graduated when the pandemic hit in spring 2020.
Too many MBAs are holding critical roles of University Leadership. In school they learn to run a business that appeals to shareholders and MBA heavy universities run the school to appeal to Donors first before students
I started at OSU in 1981 and most dorm rooms looked more like prison cells compared to even your "before" pic. After my freshman year I was allowed to move to private "off campus" housing. I rented a basement bedroom for $60/mo and it was tolerable because I had access to an efficiency apt (arguably the best in the house) I shared with my brother. We both had engineering CO-OP jobs so we worked out of town every third Q. We had to swap to keep this sweet $130/mo apt. The real mind blower looking back is that both of us could work our way through school! While I was at OSU my parents and some of their friends considered buying rental houses near campus for investment. Even with the low rents, these houses were great, cash flow positive investments with incredible tax advantages. This didn't go unnoticed because soon a large outfit (DeSantis) began buying over 90% of properties for sale in the area, then started working on buying houses that were not for sale. You guessed it! After mild upgrades, rents started rising exponentially.
And despite the dorms being overpriced and overfurnished, there's still somehow asbestos in two dorm halls, and black mold in another. Underpaid profs and overpaid admin, overpriced dining hall food and an increasingly disconnected social life. Truly the best time ever for college students
Student from Syracuse University. The only thing I don't agree is forcing me to live in a dorm and than making me pay an unfair price for this. I live in a single dorm room, the classic style, and I pay almost the same as if I lived in a Studio or a 1 Bed Ap which pisses me off because if I refuse to live on campus during my first 2 years, I can't get my degree.
This is going to backfire in a huge way for these private equity firms as universities will be facing ever decreasing enrollments due to more and more people choosing to not have kids. Less students will result in lower demand for student housing.
I interviewed for a job in a small college town in Ohio. The job sounded decent and I like the partners, but I declined the offer. When I was looking at housing options for my family, there was very little for sale and even less for rent. I imagine this has a lot to do with the skyrocketing housing costs on campus.
I still believe that the decade of “free money” has created these issues. Blackstone would never have considered investing in student housing two decades ago; the return would not have been there. But if the money is free, any return at all is an infinite ROI. But this has stopped, IMHO. 5% interest is here to stay, and students won’t be able to spend the kind of money that such implied ROI demands.
The reason is students borrowing too much money and parents living beyond their means bidding up prices. My friend's kid is paying $4,000 a month for rent in the middle of nowhere small town campus. Fortunately, he has 3 roommates so that's $1,000 each. All 4 kids are cosigned with their parents.
As fewer people choose college, colleges are competing for the shrinking pool of students. Just as college football programs recruit by showcasing their training facilities, the colleges are recruiting students with higher end housing facilities. I have seen state universities in my home state that should probably close, instead embark on a desperate (IMO) gamble of building brand new dormitories to try to attract students so they can stay afloat.
I worked at a big uni system on policy and let me tell you...the contract agreements and strongarming power that food suppliers have to force universities to agree to high caffeteria meal plan prices is crazy. Goes hand in hand with room and board costs. Both are not as regulated or within the power to control as much as tuition.
I feel like something that should be mentioned here is that the "low end" dorms that now cost as much as the "high end" dorms used to are literally still the old low end dorms in a lot of cases. Idk what it costs now, but the really old cinderblock shoebox dorms where I went to undergrad cost something like $3k/semester AND you couldn't be an RA unless you'd already lived on campus for a year.
I went back to school, at 32, to get my masters. My mom was like why don’t you live in a dorm instead of living in an apartment. I paid $8,300 a year for my studio apartment, a 15-20 min walk to campus, which was much nicer than the $12,000 I’d have spent living in the dorms for 9 months which sort of suck and I’d have to share a tiny room with a random roommate, no thanks! I live in a 2 bedroom apartment now and only pay $2,000 more a year for 4-5 times the space a normal dorm room has plus I don’t have to share a bathroom and have my own kitchen and garage. Why would I choose to live in a dorm, it’s such a ripoff! At UW Green Bay, they had apartment style dorms which were so nice, we all had our own rooms and bathrooms, that being said, they were so expensive, living in an apartment would’ve been cheaper. The campus is so far away from anything and public transport sucks though, so if you didn’t have a car, you really couldn’t access the campus and had to live in the dorms.
UMass student here, that apartment sucks. They are increasing the rates of that apartment and they opened it to students with a faulty fire alarm that would be set off at least 2-3 times a day.
I went to a middle tier state school in Texas and even there, 10 years after my graduation, they have 40% of the housing as luxury student housing and just about everything off campus is luxury apartments. Tuition has marginally risen since I left (thank goodness) but there's no way I could afford to be a student again. UT Austin where I almost went had similar tuition yet the true cost of attendance was so high it kept me out. Thankfully my life has turned out great without having gone to UT but it's unfortunate that 10 years ago I couldn't attend the best public school in my state due to what amounts to rent money and 10 years later that problem is way worse.
My first year in college I paid $215 a month for my dorm, and this included all meals except Sunday dinner. It was a scholarship dorm- we cooked our own food (4 hours a week of work each). No AC, no phones in our rooms. Which is totally crazy- this was '95. But hey, graduated without dept!
One of the best financial decisions I ever made was living with my parents during grad school. There were times when it was less than ideal. Overall I was so busy with school and work that I had little time to party. It worked out well and helped me keep my debt down. I actually paid off my grad school loans years before I paid off my undergraduate loans.
My daughter's financial package included housing. I looked at the Admissions salesman oops I mean counselor and said no she'll be commuting. But she lives 30 miles away!!! Well with the $50,000 you were going to charge her over 4years, we'll buy her a really nice car. That University a year later built a new dorm and made EVERYONE out of county live on campus. Yes all 4 years!
I currently attend a small private school and it is funny hearing about all these luxury dorms. We still have the tiny cinder block style dorms with no AC and shared bathrooms down the hall. Doesn’t mean they don’t charge us like crazy for it tho.
This is so interesting because my university has avoided any of the luxury housing being campus-owned though there’s plenty deeper into the city. Our new housing is typically apartments, but they’re relatively modest and the rates are basically designed to be cheaper than anything right next to campus but probably more expensive than things with a commute. ($8k/academic year for 9 months) Designed for upperclassman and grad students so that more of the dorms go to freshmen. We’re definitely seeing off campus luxury housing though. And frankly there really isn’t the demand. People want tiny, $1000/month studios more than anything We are definitely short on housing but my school is pretty good at knowing what’s needed. I wonder if the campus owned luxury apartments is mostly a rural school thing where companies don’t just spontaneously develop there
That video from LSU is actually not on campus housing. It is an apartment complex right next to campus that is a separate from the school called "Park Place". The actual dorms are more traditional, but I don't think you can use them after Sophomore year so Park Place basically becomes the dorms for Junior+, but once again, not part of the school
Ever noticed that the research that says that students who live on campus do better academically comes from the same universities that stand to profit from on campus living. Dig a little deeper & you’ll realize that unlike most university research, they don’t publish their methodology to be submitted for peer review. So none of that research is actually peer reviewed.
State university admissions and retention numbers are freely available. Have you ever actually tried filing a freedom of information request or reviewed publicly-available reports? I know you haven't because it is obvious.
@@texaswunderkind all I said was stuff about the "research" that's says living on campus helps students perform better. Nothing about the GPA averages are those living on or off campuses and nothing about the dropout rates of those living on or off campuses. At no point that I mentioned retention rate.
When every student loan gets approved and is backed by the government the colleges can charge whatever they want. It's the law of unintended consequences at work.
also the 70s era dorms have more style, all the new buildings look exactly the same and while some 60s/70s buildings can be generic exterior wise (depends, some 70s dorms look cool as hell), they have decent interiors, most 2020s buildings have ugly colorless interior design, i miss seeing brown wood
College itself for much of the degrees offered is nothing more than a scam. On campus housing just rubs in more pain. Speaking from someone who makes a decent living from the 4 year degree earned off campus with no debt. You better be really good at being a lawyer, doctor, engineer, or blow away the competition at computer science. Otherwise, it's nothing but a waste of money. Many would be better off going to a trade school for plumber, electrician, HVAC technician, etc.
This is what will promote the shift to online education. All this talk about equity, but only online education is actually increasing access to the economically disadvantaged in an unbiased way.
Most online universities are scams. Check to ensure yours is even accredited before signing up. If I see an online university on an applicant's resume, it goes in the trash.
The more I learn about how universities run today, the more I hate them. Love some of the professors I had but the people that run them are straight up corporate bureaucrats.
When are young people going to realize that subsidizing things makes them more expensive? Colleges get huge subsidies, hospitals, insurance companies, etc. Point to an expensive thing regular folks need and you'll see government subsidies.
This is the first year enrollments are down. Maybe colleges need to guarantee employment after graduation. Otherwise why take on the over bloated tuition? Why rent luxury dorm rooms? Why buy expensive ebooks? The day some entrepreneur finds a better but cheaper way, students will flock to it. I was lucky and graduated before things went up in price.
The video made a false statement. Housing revenue greater than housing cost does not indicate a profit because housing is not the only service provided by the college. The profit is the difference between all revenue sources and all costs, not just one cost item.
Before I actually watching the video, I actually guessed “private equity”. and for once…. I was incorrect* with that answer ha ha (*although maybe not toooo far off, depending on which college, and how far you dug into their books..)
Population of Denmark is approximately 6 million to the U. S. 331 million. I agree college is far to expensive in the US. For many reasons. But the sheer population difference makes your comparison a poor one.
Thanks to readily available student loans, colleges compete on luxuries rather than costs. Students aren’t shopping for the best deal financially; they’re shopping for the place they want to spend 4 years. And they want it to be fun and luxurious.
I hated living with my parents, but at least I graduated with zero debt. Actually had $24,000 in savings due to jobs/scholarships, and was able to later pay my own way for graduate school. I did take out some loans in graduate school, only to build up savings for my first house. College is a financial decision like anything else.
The overall housing supply shortage in these college town and cities is a huge part of the issue. The low supply of off-campus housing drives up the cost of on-campus housing. The president of Virginia Tech said explicitly in the State of the University address that they will be limiting admissions specifically due to the lack of housing.
@@evilkingstanley Yet at 4:49 she says "The contractors get to set the rate for the housing, so the school can say it's not their fault"... which is quite literally why the cost of housing is going up, housing is seen as an investment not as a basic necessity. So what is it? it isn't because of the housing market or it is?
Virtually everything in university has gotten expensive. One of the main reasons is because administrative staff somehow realized they need to make $500K a year. Not faculty we’re talking administrative.
Very few college administrators make that kind of money. I work at one of the largest universities on the planet, and there are only two executive-level staff in my entire department that make over $120,000 a year. Most managers and professional staff still make less than six figures. Not every university is Harvard.
That by design. After the successful "civil unrest" of the 1960's-1970's your overlords deliberately turned higher education into a debt trap. Massive debt is a great tool to keep the poors from using that book learning to successfully challenge quo.
Yep these leases are designed to last up to 85 years...by which point, when the land returns to the university, the buildings will be practically condemned, because they were built as cheaply and quickly as possible by a developer who was basically handed free access to the pockets of the students by the school that is supposed to be bettering them.
Not really, the incentive of the developer is to build them with an 85 year lifecycle, however once you get that far into the future it's hard to perfectly optimize a building to last 85 years and then start falling apart after that.
Well, there is an issue with basic demographics, that in even 40 years, there is a good chance that many current universities will be defunct, especially if they don't have any special status.
I live in a tower style dorm constructed in the 1960s, and while I wish I could have a private living space, there is no denying the fact that $700/month is much easier to stomach than the $1500+/month dorm costs that you're seeing in new-build apartment dorms at an increasingly large number of state schools.
Is it really only $700 a month alltogether? There is something similar at my school but it ends up being $1k per month that you can actually live in it.
My apartment-style dorm priced out to be about $700 per month when I did the math. The community style housing was cheaper on paper, but with that you had to buy a meal plan, and as a person with severe allergies there was almost nothing on campus that I could actually eat, so I'd have to shell out extra for groceries anyways. And there was no guarantee that I'd have access to the community kitchens whenever I needed them either, since they were shared by everyone on the entire floor. Which also increased the likelihood that my food would be stolen, with almost zero way to find out who did it. The apartment style housing had no such requirement to buy the meal plan, so it ended up being cheaper for me overall. Still had to go into debt for it because on campus jobs pay crap wages and I didn't have a car so there weren't many off-campus jobs that I could apply for, but the debt would've been even more if I hadn't chosen this option.
Because tuition and books weren’t gouging enough. Congress needs to look into all of this. Why do we keep saying “oh, well the kids will get loans or something” ???
I guess the argument is that students are investing in their future. But that argument falls flat when maybe about half the students will graduate, and then out of that half maybe half of that will actually get a high paying job out of college. I enjoyed the the on campus university owned apartment I lived on my last year in school, but that did cost me like an extra 2 grand. I make really well into my 30s at this point, but I'm thinking of all the other students who either had to drop out or are barely getting by with their degree even years after college.
How about going to fee free higher ed? Even poorer EU countries can do it, don't know why the richest and "greatest" country in the world can't do that.... oh yeah got to buy arms and insure a constant supply of recruits that can't afford college. 😢
Congress caused it with taxpayer-backed student loans. The colleges figured out they could charge as much tuition as they wanted and the loans would be there to pay it. The ones who suffer are the students and taxpayers. Tuition costs have skyrocketed compared to inflation.
Had to live on campus for my freshman year at Clemson. $6,000 for a shared room that was probably 400 sq ft and a required meal plan purchase of over $4,000. I wish they didn't force people to live on campus for the first year of college but I can see why they do it, but to compare, I was able to live 5 minutes from campus in a 4 person apartment for $400 a month and ~$3000 a year in food and fun costs.
I lived in doithit west for a summer for a job, beautiful room and accommodations- thankfully I didn’t have to pay the prices for it. They still tried to push an overpriced meal plan to us though (that we would have to purchase)
I graduated college in 2018, but a big thing at my university was that a bunch of high rise "luxury student apartments" were being built. They had really aggressive marketing and managed to convince people that paying $700 for a shared room was a good deal. I remember hearing my Freshman year that a regular shared student apartment was like $400/month each. It was actually really hard for find roommates for a regular apartment because so many people fell for the high rise marketing. I've heard it's only gotten worse in recent years.
@mrggy Did you guys go to school in the middle of nowhere? How'd you get an apartment for 400 a month? I attend UCF, 30 minutes away from Orlando FL and the shittiest student housing with car fires and stabbings costs 600-700 a month
@@jon3nnb646 It was a mid-sized city in the Midwest. The key detail here though is that I was a college freshman nearly 10 years ago. Rent was just across the board cheaper then
No one wants to live in a 12x12 cinderblock box with a shower down the hall today. Just facts. Colleges are only responding to market conditions. They can't maintain those huge old buildings for the bottom-basement rents they would have to charge to convince someone to live there.
Absolutely….rich kids and poor kids get the same door room. Last thing an 18 year old needs is luxury, or lack of it and then be reminded every day for 4 years that some of their classmates are better than them. I was only reminded of this fact when I went home for Christmas break and hung out at my parents house for 2 weeks, while some rich kids went to Vail.
The high end forms are for the kids of the foreign nationals and Saudi princes who want the "American college experience". It's not made for middle class Americans
@@LaitoChen , F* them. They can stay in a dorm and eat Ramen noodles or not go to school. That's the American College Experience. At least for most Americans.
As a child, I used to live in a university-owned campus apartment at LSU that was later torn down to build the Nicholson Gateway facilities. The apartments were aimed at married students and students with children (who obviously couldn't live in dorms), as opposed to the general student population. Rents for a 3-bedroom apartment, with utilities included, were under $200/month. Yes, the apartments had basic cinder block walls and linoleum tile floors, but they were *affordable* and convenient. Of course, back then, students still lived in un-airconditioned dorm rooms in the football stadium building itself!
I'm a current LSU student- most people have to live off campus and commute now and the bus routes do not go out that far. They are building apartments hand over feet, managed poorly, and the current infrastructure pushed out most grad students out of dorms they traditionally lived in to make room for more incoming freshman. Most dorms are supposed to have some space open in case people transfer to the university- 95% full with 5% reserved- and LSU hasn't honored that rule the last few years just to be sure they get as much freshman as possible. There are a lot of issues with the current housing infrastructure.
I have two kids in college right now. They are in different cities. What I have noticed is two things both campuses have in common, one, the lack of new construction around the campuses they are in. Not IN campus; but around, where students can rent. Two, the new dorms inside the campuses look more like a resort than a college dorm and somebody has to pay for all those amenities. Competition has created that. Colleges competing for students have created this new standard and parents keep paying for it. So of course prices continue to jump.
It's a tough environment when kids have been conditioned to believe a degree is a guarantee-for success and stability. It's also tough that the trades are full of toxic assholes. Not a lot of alternatives that give people a sense of lasting worth.
Demand created by higher demand? Or by investment firms who want the higher ROI from more expensive lodgings? They're still building luxury condos where I live, most of them will sit unsold and unrented for months, while there's a severe lack of affordable housing options who don't get built because there's no money in them. I'd have to assume that it's the same for student accommodation when all is being built by private equity...
@TheRealEdStoner uhhh go be in a trade for 5 minutes and half the people you'll talk to are horrible people. If you don't see that and you work in a trade then... here's your sign.
American campus communities is associated with UCI, and they literally just raised their prices another 200$ a month, despite the original statement from the university saying it was a form of “affordable housing”
Side note they also only do 11.5 months for their leasing term, when a majority of students only stay for 9 months for the school year. I’m pretty sure they only do this so they can leech more money from students, while the university housing for 9 month is 5k cheaper, but extremely run down.
I studied in Russia, Germany, and Canada. In early 2000th, a typical room on campus in a large city in Russia cost about $30-50 (you read it right), in a university city in German about 200-300 euros, and in Canada (Montreal) around $400-500. FYI: higher education in both Russia and German is either free or almost tuition free. In Canada, it was around $2000-2500 per year for Quebec residents (aka in-state) at prestigious McGill University. Tuition in the US is insane.
My university has insane tuition before grants and aid, about 45K per year, the one thing I will give it credit for is that they give us decent housing options well below market rates, around 6K per year, versus local market rate of 11K plus summer fees of around 3K. In addition the dining options are reasonable as well at around 2K, rather than the 2.8K at my local state school. Neither food nor housing were costs I considered when I was applying, but in the end even if the tution was more expensive, I think it might've been about even with some of the more local state schools for me, due to the lower housing costs. I don't know if this comment will reach students who are choosing their universities, but make sure you know the full story when picking your university, when it comes to cost there is more to it than just the tuition fees, DO YOUR Research!
Oklahoma State University...... I was certainly expecting them to make this list, but not be the first mentioned. I have stories to add to this clip that would horrify most. I arrived at OSU fresh off of an Iraq deployment; was a student and a building maintenance tech. This was during the T Boone Pickens era of attempting to terraform Stillwater to (the only obvious reason) own all real estate within a 10 mile radius in order to monopolise housing, to include demolishing off campus housing... The only other reason to do what OSU did would be in preparation to host the Olympics. The quality of housing and other issues, I could go on forever. Long story short: I did not fit in, could not see why (other than for OSU, a non profit state entity, to actually earn a profit) OSU deliberately would reduce housing in general, let alone affordable housing, and anything new was a rat nest with malfunctioning equipment.
College is such a sham. And this is coming from a person with two degrees. I'm curious how colleges will cope with declining enrollment rates and after that, declining birthrates. I hope the taxpayers don't get stuck with the bill for subsidizing developers losses when they inevitably start complaining and try to exit their contracts with the universities because there aren't enough students to fill the dorms to pay rent because college becomes too expensive for folks to attend or the students simply don't exist to fill the slots. A lot will change over the next 65 years in terms of higher education if current trends continue.
Dude you didn't get the memo? Gen Z is the smallest generation EVER, the birthrate has already been declining. The replacement birthrate is 2.1 and we're at 1.66 for last year. Corporate America has succeeded in making life too expensive for young couples to afford to have kids.
U know what will happen? They're gonna start scamming more people from india and Pakistan to come to their 'prestigious' university or colleges while in reality these students are gonna start breaking their backs and barely have time to be an actual student just to pay their stupid $20-30k first semester. If they manage to survive good but most will either get sick and go back or actually die. Look at Canada already doing that.
@@stevechance150 There will always be enough students to fill dorms due to international students and immigration, which can be more easily increased than a country's birthrate.
The models at 4:54 have washers and driers! No sharing machines in the basement with a handful of quarters and either sitting there for a couple of hours or hoping you still have clothes when come back.
"We can't have FREE college!" Um, we certainly can and did. Back when we realized educating a big chunk of our young adults was an excellent investment in our future. New Deal politics taxed the rich and made sure EVERY AMERICAN had economic opportunity. (And yes, many minorities were excluded. That's fixable. Unaffordable education for all is untenable.) Restore American prosperity!
Surely the amount the wealthy get taxed does not need to be increased, as the US already collects too much tax from every worker in the country. Rather, there are too many loopholes to reinvest what should be tax to the gov't to one's own business, so wealthy business owners effectively pay a lower % tax than their employees.
UMass Amherst’s new dorms are grossly over priced as they were initially advertised for graduate students who are often among the poorest students. The prices were so high that they were unable to fill the rooms for a time and were advertising these “luxury” dorms to incoming freshmen( this part is anecdotal and second hand). Along with this a lot of the preexisting dorms are extremely old and out of date besides two seperate areas that are accessible to the honors college or the only university owned apartments which both are significantly more expensive that the base rate dorm
My dad went to college in the late 50s and lived in a barracks style building that was set up for the GIs. There were 20 guys to a room with bunk beds, a desk and cabinet. That was it. To study, they went to the library. But I don't think any Millennials or Gen Z would be willing to accept the crappiness of the dorms me or my dad that were incredibly bare bones with lots of issues - no AC, heat that barely worked, noisy, etc. I was in one of the dorms built in the 60s that were rather spartan, but not quite as spartan and the dorms for the GIs. But the competition to get kids to attend would also probably limit those wanting the basic dorm I had in the late 90s.
I went to school in 1983. I chose a single room in dorms that were built as temporary housing after WW2 for GI Bill students. I could have saved a little by choosing the men’s only, no AC, dorms which were architecturally superior from IIRC the 1910’s. Cinder blocks and linoleum was probably the wiser choice.
My grandparents post war germany had a 10qm room for themselves, nowadays 15-20qm for max 500€ is the norm. America is a 3trd world countrie for most of its citizens…
@@duncan8437 If you had a point, it must have been lost in translation. In what way is the US a third world country for most of its citizens, and how do you know this besides buying into clickbait nonsense designed to keep people down in the US?
Interesting video, but I feel like you've oversimplified an extremely complex system of problems. I work in real estate development for a major public university. Thus, I have direct experience with this issue. The implication from this video is that student housing costs have sky rocketed due to partnerships between schools and greedy developers. In reality, like all housing, student housing costs have sky rocketed due to market competition and extremely high construction costs. In fact, a benefit of the public/private partnership between a school and a private developer is that the developer can build the project for a much lower cost than the school. There are a lot of reasons for this fact, but much of it has to do with regulations and bureaucracy that exist if a school does the project. The public/private partnerships as shown in this video are a response to the bloated costs. I can promise you with 100% certainty, schools teaming up with developers have NOT led to unnecessary bloating of costs. Quite the opposite. These partnerships are slowing the exponential growth of costs for education. An outsider looking in will think the costs are a result of developer greed. However, this assumption is made in ignorance.
You're better off commuting to your college classes than paying for room and board. If possible. And for those 1st 2 years go to Community College. You'll save so much money.
. I'm a landlord and I can tell yyou they are making great money off the rentals. They also don't fall under rent control laws in California. How do property taxes work at public University housing. The colleges in California are in the rental business and they are raking in the money.
Back early 1990s when I went to Arizona State, in-state tuition was $500/semester. Paid for it delivering pizza a few times a week and some computer programming. My housing was a 2BR / 1BA small apartment across the street from the university at around $165/month each plus utilities. And back then, they had this thing called "J-O-B-S." I can't fathom how today's younger generation will survive.
“What’s going on here?” Well, we made college a requirement for most jobs and when you have requirements it’s easy to profit from them. Especially when you defund alternatives
The problem is a lack of competition. The solution is building more housing. Prices only go down and they always go down, when supply is so much higher than demand building owners loose money from the massive amount of empty units. So long as demand is higher than supply prices will always go up. Who owns the property doesn't matter.
