Depressed home prices in Fresno have created a growing real-estate market for parents of college-aged children.An important article on housing fundamentals.
With the cost of a dorm room running about $700 a month, more parents have realized they can now buy property and make mortgage payments that are about the same, if not less.
Plus, they have a chance of later selling the home for a profit.
It's happening nationwide. A recent survey from Coldwell Banker found that 64% of its real estate agents have seen an increase in the number of "parent investors" buying homes for their kids to live in.
Tuesday, May 10, 2011
Parents buy Fresno homes for college students
The Fresno Bee reports: