Huffington Post: A taste of the millennial perspective on TCU campus

[HToady]

There's plenty of people who can afford it, the question becomes if you want TCU to be exclusively for the ultra wealthy.

We're already there.

 

[froginaustin]

. . .

There's only one thing I'm ever certain about in American politics today, which is that each and every one of the Founding Fathers would be 100%, without question, unelectable today. And that is terrifying.

 
Ronald Reagan would be unelectable today if he ran for public office with the same ideas, etc., he had back when.
 
John F. Kennedy would be unelectable today because it would be quite unlikely that his spicy personal life, including his womanizing and his underworld ties, could be kept out of the public eye.
 
Maybe Teddy Roosevelt could be elected today as a Democrat.  He'd get primaried even worse than he was in his day if he tried to run as a Republican today.
 
Times change.

 

[cdsfrog]

We're already there.

 
Close. The demographics are bad at 265k for 4 years, 190k with a deans scholarship.
 
At 550k  gross, 400k with a deans scholarship would be basically SMU or worse.

 

[nwlafrog]

FIFY

uh, thanks.

 

[Double V]

There's plenty of people who can afford it, the question becomes if you want TCU to be exclusively for the ultra wealthy. TCU could charge 100k a year and find 2,500 incoming freshman

I don't disagree, but that wasn't the question. The question was whether or not the price is fair.

Again, not advocating for what you describe above. But given that they are operating in a market with plenty of competition, whatever price they choose to charge is perfectly fair.

 

[cdsfrog]

I don't disagree, but that wasn't the question. The question was whether or not the price is fair.

Again, not advocating for what you describe above. But given that they are operating in a market with plenty of competition, whatever price they choose to charge is perfectly fair.

 
I guess. If they want to become SMU that's their choice. It's fair because of alternatives, but it's a horrible choice for the university. 

 

[Double V]

 
My exact point and it will be 95% uber wealthly people with a small portion of valedictorians from lower classes. Also sorry but TCU isn't a Ferrari. Far from it. More like a Lexus or maybe an Audi at best. 
 
Even if I save 200k for college, I'm not going to ask my daughter to pay 300k to TCU when it's not worth that. Unless you are a valedictorian or damn close a Dean's scholarship covers crap. 
 
Who knows maybe my daughter will not want to go there, but it sucks that she will be priced out even if I save a crapload for college.

I knew the car analogy would illicit such a response. So let me ask this, then. Is it fair for Toyota Motor Corp to charge so much more for a Lexus ES350 than an Toyota Camry?

While I think it's ridiculous to pay Lexus prices for a re badged Camry, they sure as heck do sell a lot of them. So long as the buyers have choices, it's fair for them to charge whatever they want. If the market deems the value not worthy of the cost, they simply won't buy.

 

[Double V]

 
I guess. If they want to become SMU that's their choice. It's fair because of alternatives, but it's a horrible choice for the university. 

Agreed!

 

[nwlafrog]

 
and I disagree. It's not just TCU however. Tuition inflation shouldn't be 3x wage growth rate. What I am saying is TCU has rapidly increased cost of attendance so fast that even if they average a pace of inflation well below their recent 36 average it will be impossible to afford. 

within the next decade I think we may see more kids attending trade schools rather than traditional universities.

 

[jake102]

But given that they are operating in a market with plenty of competition, whatever price they choose to charge is perfectly fair.

It's not a natural market. The market (all colleges) are artificially propped up by student loans which require no standards to obtain. A history major can take out the same loan as a finance or engineering major. Can you imagine if the real estate industry gave out mortgages without regards to income? Oh wait, you can....

I'm not sure what the answer is for TCU, but I'd love to see a college step up and require students obtaining student loans to have a plan. $150k to be a teacher is not a plan.

But to your point, yes TCU can charge whatever they can make in the market. And like I said, TCU could charge $100k/year and fill up the 2,500 spots.

 

[cdsfrog]

I knew the car analogy would illicit such a response. So let me ask this, then. Is it fair for Toyota Motor Corp to charge so much more for a Lexus ES350 than an Toyota Camry?

While I think it's ridiculous to pay Lexus prices for a re badged Camry, they sure as heck do sell a lot of them. So long as the buyers have choices, it's fair for them to charge whatever they want. If the market deems the value not worthy of the cost, they simply won't buy.

 
Interesting debate. Actually it may sound stupid but yes I think it's worth it haha. Not really related to TCU by any theory I can think of but I own a Highlander that has had no problems at all and drives great.
 
Once my wifes sedan craps out I'm looking at Infinity or Lexus SUV with a 3rd row as my primary choice. They have some of the luxury features of BMW/Audi/Porsche, but have considerably lower cost of ownership. Like Toyota/Nissan their parts are not nearly as proprietary and anyone can work on them which drastically reduces maintenance costs. 
 
If leasing however, Lexus, Acura, and Infinity simply do not seem worth it. If buying used like I do, then yes. Sorry for such a ridiculously long answer that didn't really answer the main question. Is Lexus really worth that much more than Toyota. Not really but the wife wants it.......
 
I will continue to buy Toyota for myself.

 

[jake102]

My wife's aunt is looking for a place in Fort Worth so we were checking out listing this past weekend.

Prices in Fort Worth are insane right now, where do all these people work that they can afford these inflated prices? Maybe a lot has changed since I graduated and left in 07. Just when I visit I can see the difference around the campus and in parts of downtown like West 7th. But Radio Shack & Pier 1 took huge hits so I'm sure they laid off a ton. Plus XTO isn't lighting the world on fire right now and the Shale plays are rough. Is there another industry in town supporting everyone I'm not aware of?

We are currently looking to buy a house in Dallas, and I don't understand what people do to afford these homes. My wife and I both have pretty good jobs at this point (and no kids), but we are priced out of most all of the nice neighborhoods. What do all the people who live on M Streets do for a living? Or in Bishop? Or even around White Rock?

Are people going in at 50% mortgage/income? I just don't get how some of these neighborhoods have starting prices of $300k for 1,500 sq ft homes that need $100k of work.

 

[cdsfrog]

We are currently looking to buy a house in Dallas, and I don't understand what people do to afford these homes. My wife and I both have pretty good jobs at this point (and no kids), but we are priced out of most all of the nice neighborhoods. What do all the people who live on M Streets do for a living? Or in Bishop? Or even around White Rock?

Are people going in at 50% mortgage/income? I just don't get how some of these neighborhoods have starting prices of $300k for 1,500 sq ft homes that need $100k of work.

 
In Dallas quite a few rent. I know my friends did, paying $2500 for a small house years back. They bought a starter home for 275k several years ago that needed 100k work.
 
Not just Dallas though. In Lewisville/ Flowermound border my neighborhood has zero houses for sale under 315k. One house listed at 269k for 2100 square feet. Under contract in 3 days. 5 years ago, that house would have been on the market for months at 220k.

 

[frognutz]

We are currently looking to buy a house in Dallas, and I don't understand what people do to afford these homes. My wife and I both have pretty good jobs at this point (and no kids), but we are priced out of most all of the nice neighborhoods. What do all the people who live on M Streets do for a living? Or in Bishop? Or even around White Rock?

Are people going in at 50% mortgage/income? I just don't get how some of these neighborhoods have starting prices of $300k for 1,500 sq ft homes that need $100k of work.

 
Owned houses in both the M Streets and Lake Highlands (white rock lake).  Those two neighborhoods and Lakewood are peoples first choices of where to live in Dallas barring University Park and Higland Park.  Fantastic areas.  However, I look at it this way.  You are buying in one of the top job markets in the richest country on the planet.  In addition, Dallas public schools are so bad that if you can find a non-hispanic elementary and junior high, then houses there are marked up 25%-35%.
 
But yes, a 1,500 SF house in the MStreets for 400K is probably right at the mean but you are 2 miles from SMU, 4 miles from downtown and 2 miles from the lake.  You obviously pay a lot for location and smoking' hot joggers running around constantly.

 

[tcudoc]

FIFY

He was accounting for inflation...

 

[cheese83]

 
Owned houses in both the M Streets and Lake Highlands (white rock lake).  Those two neighborhoods and Lakewood are peoples first choices of where to live in Dallas barring University Park and Higland Park.  Fantastic areas.  However, I look at it this way.  You are buying in one of the top job markets in the richest country on the planet.  In addition, Dallas public schools are so bad that if you can find a non-hispanic elementary and junior high, then houses there are marked up 25%-35%.
 
But yes, a 1,500 SF house in the MStreets for 400K is probably right at the mean but you are 2 miles from SMU, 4 miles from downtown and 2 miles from the lake.  You obviously pay a lot for location and smoking' hot joggers running around constantly.

I can understand the pricing in Dallas because of the job market you listed, but Fort Worth?

 

[FrogSwagSurfin]

Damn this thread could last until November.

 

[jake102]

Owned houses in both the M Streets and Lake Highlands (white rock lake).  Those two neighborhoods and Lakewood are peoples first choices of where to live in Dallas barring University Park and Higland Park.  Fantastic areas.  However, I look at it this way.  You are buying in one of the top job markets in the richest country on the planet.  In addition, Dallas public schools are so bad that if you can find a non-hispanic elementary and junior high, then houses there are marked up 25%-35%.
 
But yes, a 1,500 SF house in the MStreets for 400K is probably right at the mean but you are 2 miles from SMU, 4 miles from downtown and 2 miles from the lake.  You obviously pay a lot for location and smoking' hot joggers running around constantly.

It's just it seems like almost every neighborhood... HP, UP, M Streets, Lake Highlands/Lakewood, the rest of WRL area, Kessler/Bishop. Now you have Trinity Groves area which is a dump getting bought up at $175k for a piece of land, Munger, Junius, Forest between Preston and Marsh, the area just to the NE of Love Field.

If your max budget is $300K, you are pretty much screwed unless you want a house that needs a ton of work, live in the ghetto or some other undesirable trait. Fortunately our budget is above that, but I was hoping we could come in below budget. It's just ridiculous.

The crazy part is that all of the schools are garbage in DISD (outside HP), so I assume these people send their kids to private. Just very curious what everybody does for a living.

 

[cdsfrog]

It's just it seems like almost every neighborhood... HP, UP, M Streets, Lake Highlands/Lakewood, the rest of WRL area, Kessler/Bishop. Now you have Trinity Groves area which is a dump getting bought up at $175k for a piece of land, Munger, Junius, Forest between Preston and Marsh, the area just to the NE of Love Field.

If your max budget is $300K, you are pretty much screwed unless you want a house that needs a ton of work, live in the ghetto or some other undesirable trait. Fortunately our budget is above that, but I was hoping we could come in below budget. It's just ridiculous.

The crazy part is that all of the schools are garbage in DISD (outside HP), so I assume these people send their kids to private. Just very curious what everybody does for a living.

 
This is the main benefit for me at least living in the burbs. We got in early under 250k for a home we won't ever outgrow and have top public schools in Texas for all 3 phases of school. I would love to live in the city but it would destroy my budget. I'd rather travel internationally every single year and move back to Fort Worth into a smaller home once the kids are gone.

 

[Double V]

It's not a natural market. The market (all colleges) are artificially propped up by student loans which require no standards to obtain. A history major can take out the same loan as a finance or engineering major. Can you imagine if the real estate industry gave out mortgages without regards to income? Oh wait, you can....

I'm not sure what the answer is for TCU, but I'd love to see a college step up and require students obtaining student loans to have a plan. $150k to be a teacher is not a plan.

But to your point, yes TCU can charge whatever they can make in the market. And like I said, TCU could charge $100k/year and fill up the 2,500 spots.

Agree 100% that the easy $$ called student loans are the biggest culprit of skyrocketing tuition. Basically flooded the supply-inflexible market with demand and now we act surprised when prices skyrocket. Unfortunately, the easy money approach to student loans is the popular opinion as the bleeding hearts can't stand the thought of one person having to work through school while his classmate attends on daddy's tab.