Does it entail good education? Or does it only lead to an overrated college, overpriced tuition, and oversized student loan debt?
Is buying into a good school district the only way to ensure good education?
Good school district
By Peter P Follow Mon, 28 Aug 2006, 11:35am 3,073 views 118 comments
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I have found that desirable school districts go hand in hand with more desirable neighborhoods.
That is generally true. However, in place with more retired empty-nesters, there are exceptions. Price is probably a better indication of the neighborhood.
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It’s also a good way to pre-screen potential neighbors.
It is one good way. The key is to pay a premium. However, I rather choose to pay a the "right" premium.
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It's all relative. The "best" school district in the Bay Area is still the "best" school in the Bay Area.
You can easily get a house in a school district that's better than any of the ones in the Bay Area for less than the price of a house in the Bay Area... in New York (well technically Long Island.)
A classic sign of how broken things are here.
This house is in a very good school district (no Nortenos or Surrenos there) and is just a little more than a Mountain View condo:
http://www.mlsli.com/uniDetails.CFM?MLNum=1806241&typeprop=1&start=21&rpp=20
The downside, I guess is the enormous property tax.
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The correlation between good school districts and premium neighborhoods falls apart in the cities, since cities generally have horrible public schools, and the good schools often use a "magnet" approach, like Lowell in SF, Bronx Sci or Stuyvesant in NYC, or Boston Latin. My impression is that in the cities, the rich send their kids to private schools, while the rest of the "masses" vie for spots in these schools.
Otherwise, the effect of good schools on childrens' outcomes seems very hard to study. Do parents who spend lots of time and effort with their children usually send their kids to good schools, so that going to a good school is merely a marker for good parenting? Or do good schools have a measurable positive effect on outcomes?
In terms of relevancy to RE, I agree that the perception of a town or neighborhood having good schools certainly appears to correlate with high prices. But contrary to RE permabull thoughts, these towns are not immune to a RE downturn. Newton, MA is currently experiencing price declines, and even the holy ground of Palo Alto was not immune in the early 90's.
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The correlation between good school districts and premium neighborhoods falls apart in the cities, since cities generally have horrible public schools, and the good schools often use a “magnet” approach, like Lowell in SF, Bronx Sci or Stuyvesant in NYC, or Boston Latin. My impression is that in the cities, the rich send their kids to private schools, while the rest of the “masses” vie for spots in these schools.
It is more about premium. In the cities, you pay premium for convenience
and proximity to "action".
I would pay a premium to stay away from cities. I rather pay a premium for tree-lined boulevards and aggressive traffic enforcement
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What does good primary and secondary education mean?
College will still cost a fortune in the future.
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eburbed Says:
This house is in a very good school district (no Nortenos or Surrenos there) and is just a little more than a Mountain View condo:
http://www.mlsli.com/uniDetails.CFM?MLNum=1806241&typeprop=1&start=21&rpp=20
The downside, I guess is the enormous property tax.
Another major downside to your example is that the house is butt-ugly (just personal opinion). Judging by the (lack of) foliage on the trees, itseems like the house has been on the market for a while...
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Thankfully I'm out.
This stage of my life is now and forever behind me (with the possible exception of grandchildren). When daughter #2 graduated HS this spring I couldn't help but think there was "money involved" or they were just tired of her. Even though we're considered to be in one of the better SD's in OR it was still a relief. The "Summer of Anna" is winding down (or as I like to call it) "I Know What You DIDN'T DO Last Summer" and of course her sequel "I STILL Know What You DIDN'T DO Last Summer"!
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Did you know the results are race normed?
What? 8-O
Looks like political correctness is leading to incorrect results.
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Peter P Says:
It is more about premium. In the cities, you pay premium for convenience
and proximity to “action”.
But the "premium" only matters if lots of other people want the same premium you want (supply and demand, of course). Lots of people are willing to pay for the premium of the "hip" urban lifestyle or at least convenience to work, or whatever. Lots of people are willing to pay for the premium of good schools. On a bigger scale, the idea of "superstar" cities like SF, Boston, or NYC that the MSM is spewing is just a bigger version of paying for a premium (to live in or near one of these cities). The other way to look at it is that you get a discount to live in a place like Ohio or Michigan, or to buy a house in a not so good school district, or on a busy road or whatever.
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Health care costs must be reduced!
Military spending may be necessary. I wonder if replacing most conventional weapons with nuclear weapons can reduce costs.
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But the “premium” only matters if lots of other people want the same premium you want (supply and demand, of course). Lots of people are willing to pay for the premium of the “hip” urban lifestyle or at least convenience to work, or whatever. Lots of people are willing to pay for the premium of good schools.
I agree. If I like things that other people do not care about, I may be about to get a discount on my premium. :)
You cannot pay me to live in NYC. I rather live in Las Vegas.
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Healthcare costs are one thing, and Defense spending is another. The truly amoral cost is the cost of servicing our national debt. It's fiscally unsound, it pushes the financial burden into future generations, and it's a waste of money. The USA is one big FB!
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Healthcare costs need to come down. With everyone in the US now obese that isn’t going to happen anytime soon.
A guest worker program in the healthcare industry may help. I think there will not be enough healthcare workers in the future.
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The truly amoral cost is the cost of servicing our national debt.
It is amoral, but not immoral. :)
It should be fine. The debt is in USD, a printable currency.
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46 male
Menlo Park, CA
Why buy in a good school district when it's 3x cheaper to rent?
Also, if you have a house already but want to go to school in the next town over, those with the money can just rent a tiny place and leave it empty. Voila, residency. Cheaper than private school.
One of the Giovanotto family, a big landlord in Palo Alto, told me that "a lot" of their rentals are really just to give the renter a Palo Alto address and access to the schools. So they pay $1000 a month for a tiny apartment and never move in.
The really funny part is that even the PA school district is not that great. It's good for California, but that's not saying much. I was looking at school stats on realestate.yahoo.com last year and found that pretty much all of the midwest ties the PA SD in terms of test scores, college admission rates, etc.
The midwest has vast numbers of great schools, but then, you have to live in the midwest to attend them.
Patrick
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One of the Giovanotto family, a big landlord in Palo Alto, told me that “a lot” of their rentals are really just to give the renter a Palo Alto address and access to the schools. So they pay $1000 a month for a tiny apartment and never move in.
I wonder if a Mail Box Etc. address will work. :)
Thanks Patrick.
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Peter P Says:
The truly amoral cost is the cost of servicing our national debt.
It is amoral, but not immoral.
Thanks for the correction, of sorts. Actually, it is indeed immoral, imo. Pushing off responsibility and burden to future generations is sleazy.
Related to guest workers in healthcare, they are already starting to outsource healthcare work to other nations. Some radiology consultation is sent to India, while many folks are taking elective surgeries (not covered by insurance) to other countries where it's cheaper.
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Did you know the results are race normed? OMFG, they are so drinking their own kool-aid that they think this escapes notice.
I didn't know that - but, more embarassingly, I don't know what that means.
How is it race normed? And is this documented anywhere?
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National Health in England is sending people abroad for covered surgeries and I have heard that the large insurance companies here are looking into it.
It's a matter of supply and demand. If being a doctor wasn't so enriching, all those pre-meds would go into i-banking.
There's this trend of medical students not wanting to go into family practice because it doesn't pay well. That makes sense.
But do we really need 30 dermatologists/plastic surgeons for every 2 internal medicine doctors? I guess we could all pretend we're living in Miami.