The College Second Home - New York Times

The College Second Home - New York Times

I knew someone in college (back in 1983) who was living in a house that his parents had bought for his use while in school. Turns out that my university had a rule; freshman and sophomores had to live in the dorms unless they were locals, above a certain age, married, and so on. Since this was an actual house and not a small condo, there was a lot of extra room. He ended up renting most of it out to other guys on the football team, and was making the mortgage himself. As a side note, the guys in the house hosted parties every Saturday night; $3 a cup for all the beer you could drink (or stand.) These parties subsidized the rent, utilities, cable, and food supplies of all the housemates. The end analysis is that nobody in the house had to actually pay anything for their housing, the owning parents didn't have to pay the mortgage, and everyone was happy. Except for the neighbors, of course.