Dr. Richard Vedder
The George Washington University Hatchet quotes Dr. Richard Vedder, Distinguished Professor Emeritus of Economics at Ohio University, in a story headlined “Officials reduce number of housing price options for 2020-21 academic year.”
Richard Vedder, an emeritus professor of economics at Ohio University, said housing and dining costs have generally been rising at a higher rate than real estate housing over the past few years.
A Hatchet analysis last year found that GW charges students thousands of more dollars than nearby apartment complexes. A recent report showed that the median sale price for homes in the Foggy Bottom and West End neighborhoods, where GW is located, has increased more than 40 percent since 2018.
“Housing costs for university students have risen dramatically more than housing costs in the general economy, and I cannot think of a good reason why that ought to be so,” Vedder said.
He said the reduction in costs could be a way to “disguise” an average hike in housing costs.
“They might have a sort of simplicity explanation,” Vedder said. “They may be using this in a way to just disguise some increases in the prices in housing, more and more.”
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