Will NYC's College Building Boom Bubble Pop?

The Village Voice reports:

Real estate development was the first casualty of the Great Recession, but a half-dozen New York City colleges are in the midst of an unprecedented building boom.

St. John’s University in Queens has already spent almost $160 million on a new student center and classroom upgrades during the past two years alone. Fordham, the New School, and John Jay College of Criminal Justice are all betting on big campus expansions. And over the next three decades, NYU and Columbia are preparing to shell out nearly $10 billion for academic and administrative buildings, dormitories, research labs, and even unrelated commercial ventures like a hotel and a jazz club.

The malinvestment of socialist education.