Parents buy Fresno homes for college students

The Fresno Bee reports:

Depressed home prices in Fresno have created a growing real-estate market for parents of college-aged children.

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.

An important article on housing fundamentals.