College’S Impact On Housing Questioned

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This article really should not go where it is going to go.

I tried to talk my fingers out of it, but they would not stop pushing the keys on my laptop.

I bandaged my fingers together to try and stop their banging away on my laptop but alas, my pinky finger, as if it had a mind of its own, kept typing in one letter at a time.

I know I am going to hear about this, but facts are facts. So here goes…

There was a letter to the editor a few weeks ago in the Payson Roundup that surely contained heartfelt sentiment; the writer stated that a four year college … “will decrease our overall property values.”

It is painful to correct such a statement that is so obviously in error.

From experience, the emotion of the writer will probably not allow the fact of the matter to reign.

Maybe the writer did not read my article of Oct. 6, which stated, “The most expensive city in Arizona is Flagstaff, with an average sales price of $385,057.” If they had, they may not have written such a letter.

That figure was based on facts that were published in the 2009 Coldwell Banker Home Comparison Guide.

(By the way, Flagstaff is a college town, the home of Northern Arizona University (NAU).)

As far as changing the economy, it would probably have a dramatic effect.

For example, Northern Arizona University (based on fall 2008 statistics) employs (nonfaculty) 2,519 full-time employees, and 1,380 part-time employees.

The faculty consists of 809 instructors. The combined total is 4,708 employees.

We know the Payson campus will not approach the size of NAU; however, even if we added only 500 positions, would this not have a dramatic effect on our economy?

Perhaps the commercial vacancies would disappear?

Here is one more fact.

Economics was not my best subject in college, but the law of supply and demand was pounded into our heads.

Quite simply, the law of supply and demand is what drives housing prices.

If the demand goes up, the price will go up.

As evidenced by our current economy, demand is down, supply is up, and unless you are Rip Van Winkle and just woke up from a 20-year nap, you know that our prices are down.

For that matter, there are some incredible buys.

Out of courtesy, the name of the letter writer will not be mentioned; however, if he wishes to give facts to support his statements, no doubt they would be appreciated.

We can then move on to the debate over 7-story buildings. (By the way, my kid’s freshman college dorm in Flagstaff had seven floors.)

Ray Pugel is a designated broker with Coldwell Banker Bishop Realty. Contact him at (928) 474-2216.

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