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Investing in College Towns
Posted on Mar 19, 2008 by Mike Geyer
Investing in a college town can work to your advantage! An article from BusinessWeek, March 13, 2008 issue came out entitled “College Towns: Still A Smart Investment.” It said property values in college towns are holding strong and can make a good investment whether you’re a parent, an investor or just looking to relocate. It also stated that enrollments esp. at large public universities are growing as more children of baby boomers (echo boomers) graduate from high school. At cash-strapped public universities, dorm beds are limited and students are often forced to find private housing after freshman year, says Michael Zaransky, author of Profit by Investing in Student Housing. He says “It’s a resilient market and seems to be fairly recession-proof”.
BusinessWeek.com worked with OnBoard which is a local real state information specialist, to find out how college towns are doing in this slumping housing market. They selected towns with long-established, first-rate colleges and found that 17 out of 25 college towns outperformed their respective states regarding home price appreciation last year. Four towns performed as well and only 4 towns underperformed. Check out the BusinessWeek.com slide show to see how well the housing markets in 25 U.S. college towns have fared.
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