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In the last decade universities have mostly moved to deficit spending-style budgets and also one of the number one things that universities put their money into is local real estate, so this will have some interesting downstream impacts. jbenton/1291750705724903430Permalink On twitter.com
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What I'm saying is... if you live near a large prosperous university and you're considering moving right now... sell before they do or you are likely to face some serious downward trends in your property values in the not-so-distant future.On twitter.com
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lol can you imagine if NYU is forced to sell some of its properties to stay open and the impact that will have on the NYC real estate market?Permalink On twitter.com
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To put this in perspective: In 2018 NYU was NYC's 10th largest real estate holder ( ny.curbed.com/2018/9/14/17860172/new-york-10-biggest-property-owners#:~:text=10.,buildings%20and%20parcels%20of%20land ). In 2019 GW had >$1 billion in real estate. ( gwhatchet.com/2019/02/14/gw-among-the-districts-highest-property-taxpayers/#:~:text=The%20University%20uses%20its%20real,an%20audit%20of%20University%20finances ).Permalink On twitter.com
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anyway... i'm a millennial, so i do not now nor will i ever own property so no worries heeeeerrre (until this crashes the rest of the economy that is)Permalink On twitter.com
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