Some critics of higher education have started to suggest that, with its affiliated student loan debt, college is becoming a bubble like the housing market several years ago. How accurate is this analysis of the situation? Basically, it’s wrong. This is not a bubble.
So much of this “it’s a bubble” discussion seems to concentrate not in numbers, but in argument. This is fine but it’s not terribly meaningful. This is an economic analysis. Saying higher education is “just like housing” is simplistic.
It’s not just like housing. Here’s why.