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With resort-style pools, dockside cabanas, barbecues and beach volleyball, off-campus student housing is looking more and more like somewhere students would spend spring break.
Investors looking for recession-proof assets (there are always kids going to school) put $4.5B into student housing last year, a 50% increase from $3B the year before.
And these new student digs are more resort than classroom. According to a Bloomberg survey, 80% of off-campus students had pool access and 55% had on-site tanning salons, while just 38% put in dedicated study rooms.
The staycation must end eventually, though—the vast majority of these properties are rented exclusively to college students, and good luck trying to afford a place this nice again after all that student debt. [Bloomberg]
