Asymmetrical Information and College Realty Markets

Kurczewski, Adam; Richardson, Rachel; Schmidt, Joe; Sifuentes, Sarah

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https://hdl.handle.net/2142/97938 Copy

Description

Title

Asymmetrical Information and College Realty Markets

Author(s)

• Kurczewski, Adam
• Richardson, Rachel
• Schmidt, Joe
• Sifuentes, Sarah

Contributor(s)

Arends-Kuenning, Mary

Issue Date

2016-12

Keyword(s)

• economics
• realty markets
• consumer behavior
• housing
• undergraduate college student
• student focus groups
• student surveys

Abstract

This paper examines the amount and quality of research students perform before making a major purchase. Many students are inexperienced when it comes to choosing off-campus living arrangements and make uninformed decisions. Approximately half of all University of Illinois students live in off-campus housing, making housing research applicable to most of campus. Understanding what students prefer may improve the quality of housing research assistance provided by the University of Illinois, as well as ensure that Champaign-Urbana’s leasing market is held accountable for their pricing. Therefore, students were asked via focus groups and survey to reflect on their experience researching off-campus housing. This study concludes a variety of results, including: students who put more time and effort into their decision-making processes within the housing market are more likely to have an appreciation and understanding of the costs of their living arrangement, and that students who pay for their living costs independent of parental help will share this same knowledge and will be generally more satisfied with their housing overall.

Series/Report Name or Number

ACE 471 Fall 2016

Type of Resource

text

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http://hdl.handle.net/2142/97938

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