Tricked out student housing equals big developer profits (Of course it’s funded by student debt largely)

Meanwhile at High Point University
Meanwhile at High Point University

Funny how things are sometimes on this website. In the prior post we heard Peter Schiff warn of the student debt bubble, something we’ve long been focused on here, and now this little article comes along.

What do you remember of living arrangements in college? Bunk beds perhaps? A shared sink and bathroom with suite mates? Bookshelves made from cinder blocks and plywood?

Not anymore. In some places student housing resembles a cruise ship more than it does a dormitory. And why not? With all the cheap credit the Feds have made available to students it’s been a bonanza for the universities who have gone whole hog into creating luxury undergraduate living accommodations.

Now THIS is what education is all about. Infinity pools and concierges.

Reality is going to be a bit of a shock to these kids. Particularly the ones who won’t be able to afford a house for 2 more decades because of their debt burden. But hey, live for today!

(From CNBC)

The Standard, a high-security building, offers students luxury apartments with granite countertops in the kitchen and en suite bathrooms for each bedroom. The building is walking distance to campus and has on-site parking. What really draws attention, though, are the added amenities. The pool, fitness center, saunas, game room with large-screen televisions and even a golf simulator.

“Just look around for yourself to see. It’s always a fun time here,” said John, a junior at the university, swimming up to the side of the pool.

“Everybody needs a way to unwind. You can’t study all the time. Everyone needs to have their outlet, so it gives everyone their outlets,” said Ashton, another junior, joining the poolside chat with her friends.

Click here for the article.

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