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Old 09-01-2015, 03:07 PM
 
Location: Columbia, South Carolina
1,710 posts, read 1,501,540 times
Reputation: 358

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Quote:
Originally Posted by Charlestondata View Post
Higher education on student loans is a bubble. It's going to burst.
Student loan debt is unsustainable, to be sure, but the demand for college education will persist.

Personally, I don't think the student housing boom in Columbia is a bubble. Today's lending standards are strict enough to weed out the more aggressive speculative construction. The amount of money being invested won't be recouped quickly enough for the investors to allow the properties to fall into disrepair. Even if demand from students wanes, the apartments could easily be marketed to other demographics or converted to condos.

For now, the student housing adds density and increases the tax base, which Columbia desperately needs since so much downtown property is non-taxable. With density comes vitality, which will hopefully retain more college graduates and attract job creation. I see this as the opening play in a medium- to long-term process of economic development. There will be some missteps, but the investors pouring money into Columbia are pretty sophisticated players. I don't think they're all so foolish as to all be making bad investments worth hundreds of millions of dollars.
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Old 09-01-2015, 03:49 PM
 
Location: Columbia SC
8,856 posts, read 7,645,010 times
Reputation: 11957
Quote:
Originally Posted by SCxpBrussel View Post
Student loan debt is unsustainable, to be sure, but the demand for college education will persist.

Personally, I don't think the student housing boom in Columbia is a bubble. Today's lending standards are strict enough to weed out the more aggressive speculative construction. The amount of money being invested won't be recouped quickly enough for the investors to allow the properties to fall into disrepair. Even if demand from students wanes, the apartments could easily be marketed to other demographics or converted to condos.

For now, the student housing adds density and increases the tax base, which Columbia desperately needs since so much downtown property is non-taxable. With density comes vitality, which will hopefully retain more college graduates and attract job creation. I see this as the opening play in a medium- to long-term process of economic development. There will be some missteps, but the investors pouring money into Columbia are pretty sophisticated players. I don't think they're all so foolish as to all be making bad investments worth hundreds of millions of dollars.
Many forget or do not know this. Schools, churches, government buildings, etc. are tax exempt
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Old 09-01-2015, 04:23 PM
 
Location: Columbia, South Carolina
1,710 posts, read 1,501,540 times
Reputation: 358
Quote:
Originally Posted by johngolf View Post
Many forget or do not know this. Schools, churches, government buildings, etc. are tax exempt
Right, which is why almost any development in Columbia's CBD should be welcomed. Even with the temporary tax breaks, these developments each add hundreds of thousands of dollars to the city coffers. That's a very good thing.
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Old 09-01-2015, 04:27 PM
 
Location: Columbia, SC
6,634 posts, read 14,132,531 times
Reputation: 1830
Quote:
Originally Posted by johngolf View Post
Many forget or do not know this. Schools, churches, government buildings, etc. are tax exempt
Yes, and most of these developments marketed to students are putting taxable property on the books. Even at 50% for the first 10 years, increasing the downtown population is worth it because the population base will drive other developments.

Additionally, these could be marketed to professionals if the student population ever dropped. I don't see that happening, though.
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Old 09-01-2015, 06:29 PM
 
Location: Columbia, South Carolina
1,710 posts, read 1,501,540 times
Reputation: 358
Quote:
Originally Posted by waccamatt View Post
Yes, and most of these developments marketed to students are putting taxable property on the books. Even at 50% for the first 10 years, increasing the downtown population is worth it because the population base will drive other developments.

Additionally, these could be marketed to professionals if the student population ever dropped. I don't see that happening, though.
I don't see it happening, either, but if it did, I think the (future) young professional population could absorb a lot of the inventory. I've been relatively impressed with the quality of the projects announced downtown. I see these developments as net positives for Columbia.

If nothing else, the density and the parking garages will help change the culture of Columbia to be more urban in nature. More walking, more bikes and mopeds, more taxis and Ubers. This, too is a good thing - future freshman will see Columbia as a true city that they may want to stick around in for the long haul.
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Old 09-12-2015, 07:15 PM
 
Location: Charleston, South Carolina
9,612 posts, read 13,737,189 times
Reputation: 2082
So far tonight it looks like I knew when to leave Gamecockville. Spurrier's pre-season rhetoric will no longer cut it up there. Go, Nunez. ??????????? Those question marks are quickly becoming minus signs.
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Old 09-12-2015, 08:59 PM
 
Location: Charleston, South Carolina
9,612 posts, read 13,737,189 times
Reputation: 2082
Quote:
Originally Posted by Charlestondata View Post
So far tonight it looks like I knew when to leave Gamecockville. Spurrier's pre-season rhetoric will no longer cut it up there. Go, Nunez. ??????????? Those question marks are quickly becoming minus signs.
Sad.
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Old 09-12-2015, 11:57 PM
 
Location: Irmo, SC
1,532 posts, read 1,421,061 times
Reputation: 362
Quote:
Originally Posted by Charlestondata View Post
Sad.
C'mon Data- you can't be a fair weather fan! It's been a rough night for sure; there's still a lot of season left so anything can happen.
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Old 09-13-2015, 05:50 AM
 
975 posts, read 998,370 times
Reputation: 153
Big whoop data, expectations are very low this season meaning if they play to .500 record we'd be pleasantly surprised
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Old 09-13-2015, 02:42 PM
 
Location: Columbia SC
8,856 posts, read 7,645,010 times
Reputation: 11957
USC has a history of retaining coaches unable to get the job (winning season at least) done. Ala Lou Holtz. I am afraid Spurrier is unable to get the job done.
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