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The Coming Bust in Student Accomodation

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The Coming Bust in Student Accomodation

 

When I saw THIS (below) I felt I need to start this thread

 

70994109.gif

 

Description

An extensive refurbishment project is currently underway to ensure that this former pub is transformed into high-end private student accommodation; ensuring students studying at Sxxxxx Hxxxxx University have access to quality, private accommodation, within walking distance of their classes.

  • 23 boutique en-suite studios
  • 10% NET return assured for Year 1
  • Communal facilities including coffee shop and gymnasium
  • Within walking distance of Sxxxx Hxxxx University
  • Amenities include Free Wi-Fi in all rooms and are inclusive of an LCD TV
  • Recognised and proven student rental management teams
  • Developer has a proven track record in student accommodation
  • ==
  • /source

My purpose is not to pick on this particular project, university, or the developer, but to suggest that there may be a bubble in student housing.

 

Do students really need to be pampered like this?

They should be focussing on their studies not country club living, at a university that (well, with apologies to anyone who may have attended) no one outside the UK has ever heard of.

 

Universities are teaching the WRONG skills, at the wrong price. And many students are going to graduate ill-prepared for the future. Pampering them like this while they are there is only going to increase their sense of entitlement, and cause a bigger future disappointment.

 

It is time the UK and the US too, "gets real" about College education - and this is the wrong sign entirely.

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I was reading about some student accommodation like that near Kings Cross in London.

The cost was outrageous but there will always be a demand in London.

It sounded very luxurious - it'll only be for the rich foreign students.

I seem to remember there was a gym in the basement.

The LCD TV is worthless - people have their own laptops.

 

I think these are the result of those Business Expansion schemes which tried to reduce the high risk by investing in properties to be turned into student accommodation. My partner (who was a higher rate taxpayer) got into one of these. But not me as I'm very good at keeping my tax liabilities to a bare minimum; having enjoyed many wonderful years living here as a non domiciled individual :)

 

Wish there was one near Durham uni.

Do you know if there is one there?

They might be expensive but usually, students get expect 2 years at uni accommodation with one year out on their own.

Well, I'll cough up if there was one there but it'll come out of her inheritance.

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Wish there was one near Durham uni.

Do you know if there is one there?

They might be expensive but usually, students get expect 2 years at uni accommodation with one year out on their own.

Well, I'll cough up if there was one there but it'll come out of her inheritance.

 

And then what ??

 

After your son or daughter graduates, what do you do with the place? Sell it? Maybe at a loss.

Rent it out? Hope you get good tenants, who do not trash it.

 

There may not be much of a market in a few years, since I think many Universities will be closing or downsizing in the years to come.

 

And what of your son or daughter?

When they finish Uni, will they be prepared for the Reality that follows??

For many young people, the step out into reality is too big a step down, so they return home and live with mom & dad.

 

I know they were different times, but my parents told me: "When you finish college, you are on your own - you won't be living here."

 

That put pressure on me to make the most of my education and find a good job. "Tough Love," they used to call it.

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The future of college may be virtual

 

Bricks-and-mortar universities should prepare for a jolt as high (and still rising) costs push students online.

In many ways, education hasn’t changed much since students sat at the feet of Socrates more than two millenniums ago. Learners still gather each autumn at colleges to listen to and be questioned by professors.

 

But the Internet has caused sudden shifts in other industries, from the way people read news to the way they buy music or plan travel. Might higher education be nearing such a jolt?

Aside from the massive dent put in their endowments by Wall Street’s woes, colleges and universities mostly have been conducting business as usual. Costs have soared compared with general inflation, but students still flock to classes.

Many have theorized that the Internet could give education a rude shock. Recently, an opinion piece by Zephyr Teachout, a law professor at Fordham University in New York who once served as an Internet organizer for presidential candidate Howard Dean, put the possibility in dramatic terms.

 

“Students starting school this year may be part of the last generation for which ‘going to college’ means packing up, getting a dorm room, and listening to tenured professors,” she wrote in The Washington Post. “Undergraduate education is on the verge of a radical reordering. Colleges, like newspapers, will be torn apart by new ways of sharing information enabled by the Internet.”

. . .

Today, a college education is more than twice as expensive as it was in the early 1990s, even after adjusting for inflation.

“It’s getting worse all the time. There’s no end in sight,” Mr. Carey says.

 

Colleges “have set the bar pretty low for competitors” through a lack of competition, he says. At the same time, many potential students are being underserved. “We need more institutions that are good at serving working students, immigrant students, low-income students, students who are basically going to college because they want to get a credential and have a career,” he says.

===

/more: http://www.csmonitor...-may-be-virtual

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COMPETITION will bring the cost down... by as much as 90%+

 

About 30 percent of the undergraduate credits given each year at US colleges and universities derive from only 20 or 30 introductory classes. It seems logical, then, that these could be turned into “commodities” sold at the lowest price online.

 

“Econ 101 for $99 is online, today. 201 and 301 will come,” Carey writes in an essay, “College for $99 a Month,” in Washington Monthly. “The Internet doesn’t treat middlemen kindly.” He describes an unemployed woman in Chicago who was able to complete four college courses for less than $200 on Straighterline.com. The same courses would have cost $2,700 at a local university.

/more: http://www.csmonitor...e-virtual/(page)/2

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Well my daughter might be a little different from the others.

When they changed the tax laws for non domiciliaries, I liquidated nearly all my offshore investments and stuffed most of the cash into the children's names (with a much smaller sum to my partner).

The way I saw it was that I copped out of doing some horrendous CGT calculations, avoided a hefty CGT liability and reduce the potential inheritance tax on my estate from 40% to hopefully nil.

I used the kids' cash to load up on a couple of stocks which I hope will be very successful picks.

Heck, if they turn out as expected, she may never need worry about a job, which is NOT a good thing at all.

I've been lecturing the children on sharing with others who don't enjoy their advantages, so while I can't compel them, I'd hope they will give most of the money away.

My partner is totally against this, of course.

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Yes, virtual learning is the way to go.

I think Harvard and Yale already makes lot of their lectures available online for non students (but I could be wrong on this).

It's the Open University model.

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I wonder how many Unis are teaching useful course like this one:

 

 

Introduction to Aquaponics by Chris Sharp

23-24 November 2012, Hong Kong

 

Rice-fish farming in China can be traced back over 2000 years that provided plenty of rice and fish. Ever-ingenious, they began cultivating these fundamentals of the Chinese diet together, putting baby carp into their paddies as they planted rice seedlings. Come harvest time, the fish were ready for the pot.

In the Introduction to Aquaponics Seminar, Chris Sharp will introduce the history of Aquaponics and how the Chinese invented it over 2,000 years ago. Major topics will include:

• Aquaponics, How does it work

• Comparison and Advantages over Conventional Farming, Aquaculture and Hydroponics

• What role does the Nitrogen Cycle play in Aquaponics

• pH in Aquaponics

• Types of Filtration in Aquaponics

• Types of Aquaponics Systems

• Choice of Fish Species and Plants

 

Organiser

Kadoorie Farm and Botanic Garden (KFBG) - the workshop is organized as a post-convergence workshop of the SE Asian Permaculture Convergence 2012.

 

Supporting Organization

Aquaponics Association of Asia-Pacific (AAA-P)

 

About the Course

Aquaponics is the symbiotic cultivation of plants and aquatic animals in a recirculating environment. Chris Sharp, an expert of aquaponics who is currently on a study tour throughout Europe and Asia, will give us an introduction to the benefits of aquaponics and its potential in Asia on Day 1. A field visit will be arranged on Day 2 to study the Homestead Aquaponics Kit designed by Practical Aquaponics.

 

Venue

Kadoorie Farm and Botanic Garden, Lam Kam Road, Tai Po, N.T., Hong Kong (please see P.2 for directions to KFBG.

=== ===

 

That is where I will be the next two days

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Yes, virtual learning is the way to go.

I think Harvard and Yale already makes lot of their lectures available online for non students (but I could be wrong on this).

It's the Open University model.

They have some, yes.

 

MIT has even more: http://ocw.mit.edu/courses/

 

A really Super education, might involve a local tutor, who has regular face-to-face seminars with students.

who have prepared for the regular seminars by watching lectures online

 

++++++ *** IDEA *** ++++++

lightbulbon.png

 

+++++++++++++++++++++

 

Maybe I should start a GEI Online Course on Aquaponics

- This could involve collecting & sharing links to good videos (and books) on the subject

-- Followed up by occasional Skype chats

 

The idea is to eventually build a team who has their own Live Aquaponics projects going

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For many young people, the step out into reality is too big a step down, so they return home and live with mom & dad.

 

I know they were different times, but my parents told me: "When you finish college, you are on your own - you won't be living here."

 

That put pressure on me to make the most of my education and find a good job. "Tough Love," they used to call it.

 

Guesing there were these things called "jobs" back then ;)

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I finished college in the middle of the mid-1970's Recession, caused by the first Oil Price shock -

and it hit the US VERY HARD, so times were nearly as bad as they are now. So I was lucky to get a job.

 

The fortunate thing was that the "bad times" did not last too long, and those who had managed to find jobs,

were well positioned for the upturn when it came. The same thing could be said now, but the upturn is

slow in coming.

 

Still, in certain areas (Geology, is one), it is easy to find jobs. So if you have a degree in something other than

Media Studies - or some nonsense like that - you will have an easier time finding a job.

 

How practical are the career choices of today's students? I wonder.

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I finished college in the middle of the mid-1970's Recession, caused by the first Oil Price shock -

and it hit the US VERY HARD, so times were nearly as bad as they are now. So I was lucky to get a job.

 

The fortunate thing was that the "bad times" did not last too long, and those who had managed to find jobs,

were well positioned for the upturn.

 

I remember it well.

 

Slightly different here though, as “we” decided to restructure our economy just after that.

 

Country nearly ripped itself apart.

People forget (or are too young to know) that we actually had two back-to-back major recessions. (Hence my old point about it not being as bad as the 70's now......... yet).

 

Guess having a degree from Harvard might have helped a bit too, especially back when only a small percentage were lucky enough to go to University, not like now when nearly half the population is expected to go (like UK today).

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I remember it well.

Guess having a degree from Harvard might have helped a bit too, especially back when nearly half the population was expected to go to Uni (like UK today).

 

Certainly it did. I was "lucky" that way, and it cost me a bomb in tuition.

And I was a good student, so that helped also.

 

I had two main job offers after University:

+ Chase Manhattan, which started immediately, and

+ JP Morgan, which started three months later.

 

I preferred the Morgan job, but I could not afford to wait three months.

I wonder how different my life would have been, if I had chosen the other path?

Still, I made the best of what came my way, as we all should.

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I wonder how different my life would have been, if I had chosen the other path?

Still, I made the best of what came my way, as we all should.

 

I guess the only question is, are you happy now?

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I guess the only question is, are you happy now?

Sure.

Are you?

I only mention that, because there was a stage where I was unhappy at Chase, and I actually had some interviews with JPM

and came close to accepting a second job offer there. That was the time of my big "second thoughts."

 

I later wound up with the sort of job (investment banking) that I decided I wanted, but it took some years to make the transition,

learning all the time. For some years at Chase, I took jobs that were especially created for me, in effect building a totally

unique career there.

 

I think i was seen as a Maverick, who tried to work within the system, rather than a rebel. But I was a bit of both.

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The Coming Bust in Student Accomodation

 

When I saw THIS (below) I felt I need to start this thread

 

70994109.gif

 

Description

An extensive refurbishment project is currently underway to ensure that this former pub is transformed into high-end private student accommodation; ensuring students studying at Sxxxxx Hxxxxx University have access to quality, private accommodation, within walking distance of their classes.

  • 23 boutique en-suite studios
  • 10% NET return assured for Year 1
  • Communal facilities including coffee shop and gymnasium
  • Within walking distance of Sxxxx Hxxxx University
  • Amenities include Free Wi-Fi in all rooms and are inclusive of an LCD TV
  • Recognised and proven student rental management teams
  • Developer has a proven track record in student accommodation
  • ==
  • /source

My purpose is not to pick on this particular project, university, or the developer, but to suggest that there may be a bubble in student housing.

 

Do students really need to be pampered like this?

They should be focussing on their studies not country club living, at a university that (well, with apologies to anyone who may have attended) no one outside the UK has ever heard of.

 

Universities are teaching the WRONG skills, at the wrong price. And many students are going to graduate ill-prepared for the future. Pampering them like this while they are there is only going to increase their sense of entitlement, and cause a bigger future disappointment.

 

It is time the UK and the US too, "gets real" about College education - and this is the wrong sign entirely.

 

It sounds like they are trying to bring student accommodation up to the levels of our prisons

 

http://www.deadlinenews.co.uk/2010/11/28/new-tvs-to-bring-porn-to-prisoners/

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One of the Senior people said to me:

"We like Wild Ducks, so long as they fly in formation."

I could, sometimes - but not always.

 

mallard.jpg

 

School, and Universities too, teach people what the formations are, and socialise people to stay within them.

 

But a real wild duck cannot do that for long. And nearly all top entrepreneurs "behave like Wild Ducks",

finding their own flying patterns - as I did eventually.

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The message about college being a bad investment is one that many - possibly most - people instinctively find abhorrent. I think this is because culturally we place such a high value on education as a means to improve one's lot in life. They conveniently forget that the education received - like our fiat currencies - has been progressively devalued, whilst the costs involved are quite literally condemning our youth to a lifetime of debt slavery. This is particularly true in the US, where bankruptcy does not cancel student debt (land of the free, my arse!).

 

James Altucher writes brilliantly on the subject:

 

+ http://www.jamesaltucher.com/2010/02/dont-send-your-kids-to-college/

 

+ http://www.jamesaltucher.com/2011/01/10-more-reasons-why-parents-should-not-send-their-kids-to-college/

 

The sooner the myth of further education is debunked in the wider public's consciousness, the better.

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"They conveniently forget that the education received - like our fiat currencies - has been progressively devalued"

 

That's the problem exactly -

 

Price up, quality down - at a time when something totally new may be needed.

But the university officials just keep raising the price, thinking they will always get away with it.

 

Then the Cliff's Edge comes.... and BAM! ... the state may cut much of the funding.

 

Then what will happen to all that expensive housing at 2nd tier and 3rd tier Uni's ?

I think that is the real risk that investors are facing

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It is time the UK and the US too, "gets real" about College education - and this is the wrong sign entirely.

 

Trouble is though, they are also pandering to the needs of employers.

 

Knowing a few people who work in H.R or recruitment, I'm hearing many large companies will not touch a candidate C.V unless it contains the word "Graduate". Graduate of what is sometimes irrelevant, as those making judgement, haven't the foggiest on the merits of the degree in front of them. A first in Philosphy or dog walking is probably held in higher regard than a 2:1 in Engineering or Astrophysics.

 

Sorry for going slightly off topic.

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Trouble is though, they are also pandering to the needs of employers.

 

+1

 

Besides, they've already cut the funding massively.

 

£9k per student per year isn't that far off what it costs the Unis' for many degrees (Sci/tech/med costs more, labs, equipment etc).

 

Of course, they'll blag you it's more, but in reality, it really isn't.

 

Still, got to cover the bloated admin costs somehow <_<

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Now students are lobbying to have their student debts forgiven, instead of:

 

+ Demanding cheaper education,

 

+ Demanding more relevant courses.

 

They (and we) are stuck in an old paradygm

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