Various harbingers appear of an end to the college-cost syndrome, whereby prospective students and their parents reassess the worth of plowing tens of thousands of dollars annually into a degree credential. And surely, on the margins, this revolt against the endless increases in tuition and other bills is evident. But then we see reminders, as in today’s word in the Wall Street Journal of a buyout deal for American Campus Communities, that post-secondary ed remains a hot market. ACC specializes in building housing for such students, and you can sure these are not bare-bones dormitories. Nevertheless, such construction often qualifies for tax-exempt financing, and can turn a nice profit when Dad and/or Mom go looking for a swell (and safe!) place for their academic offspring to decamp. The great real-estate consolidator Blackstone is now putting its stamp on the arrangements. You can be sure its analysts have concluded that no great pullback from the run-up in college costs in the offing.
Tim W. Ferguson 