You could also argue that universities create (or are a major factor in creating) real estate hot spots. A city with a major university is definitely also more

You could also argue that universities create (or are a major factor in creating) real estate hot spots. A city with a major university is definitely also more desirable for other groups than a non-university city. Not talking about cities like Munich, that would be hot spots anyway, but smaller cities (e.g. Aachen) definitely gain (or lose, depending on your point of view) a lot through their university.