by Wolf Richter
Already troubled asset classes, such as student housing and student housing CMBS, face turmoil.
The pandemic threw higher education into chaos in the middle of the spring semester. How this will pan out for students, colleges, the whole army of people that works in higher education, the asset class of student housing, student housing mortgages packaged into commercial mortgage backed securities (CMBS), text-book publishers, and the rest of the industries surrounding the sector is highly uncertain. But even before the crisis hit, before the shutdowns, student enrollment in the spring 2020 fell for the ninth year in a row.