The fall in asset prices (such as subprime mortgage backed securities) during 2007 and 2008 caused the equivalent of a bank run on the U.S. shadow banking system, which includes investment banks and other non-depository financial entities.
The overall cost for on-campus students to attend Morehouse College in 2014-2015 was $47,300. To calculate future costs, we looked at the prior five years of data and determined that this cost increased an average of 4.2% each year.
When it comes to New York neighborhoods, the areas that saw the highest rent increases this year were buzzy nabes Greenpoint and Gowanus, both with an average price of $2,600 and on-the-rise Roosevelt Island, where one-bedrooms now cost an average of $3,000 a month.