 [ | E-mail Share Share ]  Contact: Kevin Stacey University of
Chicago Press Journals  Study: Housing bust could mean lower
college attendance   The study, by Cornell economist Michael
Lovenheim, finds evidence that when home values soared in the
late 1990s and early 2000's, many families borrowed against that
new equity to send kids to college, boosting overall college
attendance nationwide. Now that the boom is over and families
have less equity in their homes, it could mean fewer students
heading to college, especially kids from middle and lower income
households.  To see how the housing boom affected college
attendance, Lovenheim looked at differences in real estate
markets around the country.  "Housing prices grew dramatically
in the 1990's, but they didn't do so evenly across cities,"
Lovenheim said. "For example, housing prices in San Francisco
increased six-fold during the housing boom, whereas in places
like Oklahoma City, prices barely doubled. If housing wealth
affects college enrollment, any incre