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.
How much does the average new house cost in the U.S? The Census Bureau says it is about $80 per square foot (or $120,000 for a 1,500 square-foot home), but this misses some additional expenses, such as closing costs, opportunity costs (on average, housing isnât the best investment), costs to furnish the house, interest costs, property taxes, etc.