Housing Meltdown Opens Doors for College Students

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Updated: 11/16/2011 8:18 am
Some students at UC Merced are choosing to live off campus, in newly built homes because it's cheaper than living in the dorms.

Heather Alarab shares a five bedroom suburban house in Merced... with a swimming pool and Jacuzzi. "It's definitely a plus that a lot of students don't have," said Heather.

Students at UC Merced are finding they can rent beautiful new homes at very reasonable rates because Merced has one of the highest foreclosure rates in the country, which means a big choice of low cost rentals. 

Jill Foster shares a five bedroom house with four roommates. They each get their own room for about $400 a month. On campus, dorm rooms cost $500 a month and you have to share your room with one or two roommates.

Jaron Brandon shares a 4,500 square foot ranch house with a half dozen other undergrads. "We're not the only mansion in town, I believe we're the biggest though," said Jaron.

Jaron's roommate Chris Chan has a room so big he projects movies on the wall. 

There's a room for practicing live music and another for table tennis and the yard is big enough to play football. "Comparatively, we're living like kings and they live like trash," said Chris.

It's not just happening at UC Merced, in Stockton, students at UOP are also living off campus. The Lexington Hotel went through foreclosure and now it's called the University Lofts.

Students can live in luxury, enjoying hotel amenities and for those over 21... the bar.
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