4 ms·
Good public schools around here drive an ~20-25% increase in house prices, for similar houses with similar commutes et c., versus merely middling schools, let a
by shantly 7y ago
Good public schools around here drive an ~20-25% increase in house prices, for similar houses with similar commutes et c., versus merely middling schools, let alone the bad ones.
- lotsofpulp 7y agoThat is a reflection of the difference in household incomes (how much mortgage debt a family qualifies for). Good schools is a proxy for household incomes of the residents in the school district, which is a proxy of education / "achievement" level in life, which is a proxy for how useful you might be to someone else.
- shantly 7y agoWell right, it's all related. The schools are good (largely) because the people sending their kids there are willing and able to pay extra to live near good schools. The houses cost more money because the schools are good. Feedback loop.
- lotsofpulp 7y agoI would modify your statement to say “the schools are good because of the type of parents the kids in the school have” - who are well educated, higher earning parents that can provide the guidance and resources that results in the qualities “good” schools are known for.