Thanks to an alert reader for sending this story my way –
As the inner cities, along with much of Florida and the interior of California, face the prospect of a foreclosure meltdown, American college towns appear to be islands of stability.
It could be all of that and more, say economists and academics. But ultimately, what the cities on the list have in larger measure than much of the rest of the country is stability, in both their housing and job markets.
Contributing to reasonable home prices is the fact that many places on the list are economic oases, surrounded by areas where jobs are dwindling, which helps depress housing demand. Yet the college towns themselves are thriving: The peak years for American births since the baby boom were 1989 to 1993, and college enrollments are swelling as never before. Many communities on the list also have big medical centers or flourishing research operations.
Take a look at some of the historical data on UVA construction -Â and then look at their Master Plan. The scale and scope of their growth is extraordinary, and likely will continue unabated (for better or worse) for many years to come, shoring up our housing and job market in the process.