NEWS
In newest city trend, students own their own turf
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by Andriy Pazuniak
Wednesday, October 18, 2006
Over the past few years, city leaders have noticed a third trend in student housing quickly emerging: UW students not renting, but actually owning the houses they live in.
Though nearly impossible to track statistically, many city leaders said a growing number of families are purchasing homes in Madison neighborhoods for their relatives attending UW.
"It has been a fairly recent phenomenon," Ald. Judy Olson, District 6, said. "Parents are buying houses for students, then turning them over after four years when schooling's done."
City leaders expressed mixed reactions to the growing trend.
By taking houses off the market, Olson said the phenomenon could pose problems for some Madison neighborhoods.
"It takes houses off of the market, creating unfair competition for long-term residents," Olson said. "It's a real problem for them."
Ald. Robbie Webber, District 5, however, said that a community could benefit any time someone makes a commitment to purchase a home in a neighborhood — even if it is university students.
"When you buy a house, you become part of the neighborhood," Webber said. "So if somebody wants to buy a house, that's wonderful. It's a great investment."
Webber, however, identified two problems that often arise when students own the homes they live in — over-occupancy and parties.
"The question is always: Are these people going to be good neighbors? Is the house going to look nice?" Webber said. "People are concerned about too many people living in the building and they want to make sure it's kept up."
