Connecticut's Beachfront Housing Crisis: $20,000 Student Rentals?

Fairfield, CT: Beachfront Luxury vs. Housing Crisis for Students Fairfield, Connecticut, is home to Fairfield University, and its beachfront student housing market is creating a stark contrast between privileged students and struggling graduates. Some students enjoy lavish beachfront rentals costing up to $20,000 a month, while many graduates face a housing crisis. Landlords secure these lucrative rentals years in advance, often renting them out during the summer for even higher prices. "It's a goldmine for investors," says Doug Cress, a local realtor, referring to the high demand and low marketing costs. The situation is particularly competitive for students, with some securing leases as freshmen to guarantee a beachside spot by senior year. This leaves many graduates struggling to find affordable housing in the area. "Meanwhile, student debt is at an all-time high," Cress adds, highlighting the disparity. The video provides a visual representation of the opulent beachfront homes, juxtaposing them with the everyday realities faced by many graduates. The story underscores the challenges of the housing market and the need for affordable housing options.