'Thrown to the wolves': How private investors are jacking up rents and ripping off college students

Wed, 09/20/2023 - 05:27

A house falling on top of a college student — Business is booming for investors in college housing, who poured $22.9 billion into the industry last year. But for students, the picture is more fraught.
Tyler Le/Insider

Waterloo, a 30-story tower just a few blocks west of the University of Texas at Austin, has everything the modern college student needs: Its top floor features an infinity-edge pool, a pair of saunas, and a yoga studio, while the lobby includes an in-house coffee bar and ample nooks and tables for socializing or studying. To enjoy all this, a student just has to find five other friends willing to pony up a total of $8,100 a month for a six-bed, six-bathroom apartment, or come up with as much as $1,900 if they want their own studio.