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Subscribe to RSSDepressed real estate prices near the UC Davis campus make mansions cheap enough for students to afford to rent. NBC's George Lewis reports.
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What a wonderful, full story. Thank you for all that detail!
It is a good story. Cheap real estate is good. Expensive is not good. People should be able to afford their homes cash down without having to pay for the life style of a fat cat banker for a lifetime. But Uncle sam won't agree. Bush went on TV and talked about affordable housing. Then home prices took off and the only thing that was affordable to you was the mortgage rate, the interest you pay for money that banks create out of thin air and demand interest for.
www.tradingstocks.net/html/housing_market_bubble_bust_cyc.html
If you want a cheap house then go to a grocery store get a cart put all your belongings in it walaa you will get the CHEAP AFFORDABLE house your looking for or you can spend some money like the rest of us homeowners and buy one.
wheels460, when the salaries stagnate, it does not make sense for home prices to double, triple, quadruple. today home prices are 20% above long term inflation adjusted prices in america. past generations paid less, why should the new generation pay more? i understand you have a home you want to sell at a higher price to a greater fool, but that is not a viable option for the entire society.
This shows us why they are REALLY having trouble repaying student loans.....................:) Just goes to show, the chief complaint of the 99%'s is that they cant obtain being in the 1%. LOL
They can't repay student loans because they spent $300 a month on rent while they were in college? Did you pay any attention to the story?
They "can't" repay their student loans because they're living beyond their means. You get ten years (or more if you work with your lender) to repay them. But when you think you need an MacBook and an iPad and MP3 players and cell phones to live, then you won't take so-called "slave labor" jobs which are more income than not having a job at all...you're gonna have some trouble.
This story is about students at UC-Merced, not UC-Davis. For a two sentence story, you'd think msnbc could at least get the major points right...
A new home for OWS...
Why graduate???.....
lol ... wish I were young again. Wild and crazy. Only in america. Love it.
Do you really need to be using a computer in a tub?
hmmm...wonder what these homes are going to look like when they move out ?
Won't matter. this kid is sitting in water, with an electrical appliance apparently unplugged, and the electrical cord awaiting. Adios.
I read this exact story several weeks ago on msnbc when they ran it for the 1st time. I'm still curious why he on his laptop and in the bath with his boxers on?
Ahh, I see the "slam the students" brigade are with us today. Let me inform you that there are extremely high numbers of vacant housing in certain areas of California and once the owner occupier moves out, the houses generally fall into disrepair, which is a huge concern for the good neighbors in the street still paying their mortgages.We're talking grass as high as your knees, broken windows, weeds, etc. and it increases the chances of vandals in the area targeting the unoccupied house. Having students occupy these homes, keeps them in reasonable repair for a future buyer to consider. Many communities are struggling to combat this sort of property neglect, but it is difficult if banks are the owners.
Now, was it the fact that the students were from California that bothered you, or was it just because they were students Yellahammer, Dassaller, and company? As as parent with college loans for my kid, watching her pay $400 a month for a room in a slum in a well known college town in the midwest, ya'll might want to take a moment and think about who is paying for these kids. Usually, the parents are paying a big portion, and if they are, it's none of your damn business!
Stephanie...do you really believe that these students are keeping the houses in reasonable repair?
Boozed up college kids with no real adult supervision, what could possibly go wrong?
Yeah the rent is "Cheap" but Cheap by whose standards.
If I had a mansion to rent, college students would be the last tenants that I would rent to.
I'd rent to them as long as I am (automatically) invited to all the parties!
Connie do you have any idea how much a dorm costs for a semester? Really the cost here are so much more reasonable.
Rent a mansion, it is a great way to get lay. Thumbs up.
Foreclosing properties in the southwest get trashed - I have a friend in real estate and she tells me it is not unusual for pool heaters, pool pumps, furnaces, water heaters, kitchen appliances and bathroom fittings to be stolen from vacated houses, so putting short term renters like students in can be a great idea. They may be messy, but they won't be taking the house apart bit by bit. There are even people who drive around areas with many foreclosed properties looking for a house to illegally occupy. Better a short term renter like a student, than a home damaged to the point that no one wants to even look at it.
UC Davis is in Merced now? That is one hell of a big campus!!!!
i want to go to one of their parties!