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2011-09-15 20:19:02

A study published in the October issue of the Journal of Labor Economics suggests an unexpected consequence of the housing bust: lower college attendance. The study, by Cornell economist Michael Lovenheim, finds evidence that when home values soared in the late 1990s and early 2000's, many families borrowed against that new equity to send kids to college, boosting overall college attendance nationwide. Now that the boom is over and families have less equity in their homes, it could mean...


Word of the Day
jument
  • A beast of burden; also, a beast in general.
'Jument' ultimately comes from the Latin 'jugum,' yoke.
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