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This lowers property revenue, even as material, labor, and insurance costs risea combination thats making building and operating affordable housing extremely difficult, or even infeasible. Current estimates are that nearly five million households are behind on rent, adding up to a total rent debt of $9 billion.
23 Such university developments simultaneously raise property values and contribute little to public services. The most embarrassing edifice to this type of land scheme is the State Farm Insurance regional headquarters that sits on ASU land. Given my work, it specifically focuses on university-driven urbandevelopment.
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