No way. Look at a chart of Chinese stocks and you will immediately notice the huge rise recently, and the treading water for years before that. The stock market there did not make the millionaires. From Bloomberg in September 2014:
“Given the explosive growth in value of China’s real estate in recent years, it seems surprising that only 15 percent of millionaires, or 160,000 people, have made their money in the property market, according to Hurun. Senior executives at both Chinese companies and multinationals in China, who as elsewhere in the world benefit from salaries and bonuses, accounted for 20 percent, while the largest group of millionaires were private business owners, making up just over half. Just 5 percent of millionaires made their money as professional stock investors.”
It’s still up over the year. China is still the developing world, there is very high volatility. Upswings are big, downswings are big. I don’t think this is necessarily indicative of a huge meltdown of the Chinese stock market yet.
I wonder what the higher education landscape will look like then. Full-tuition scholarships likely will still be available at some schools given a high enough PSAT score.
McGill likely won’t be a cheap option any more, though.
@PurpleTitan Not sure if it’s the same as renters. Presumably, renters pay property tax throrough their rent. These students are not renting. They are staying at someone’s house. Their property tax probably does not reflect having students perpetually.
@Iglooo, well, they’re renting from those people (note that they pay room & board), so they are partially paying the property tax of their hosts.
It is true that the property tax base did not increase with their addition, but that would be true for any families that add babies (or decide to live together as an extended family), etc.
Having another baby or living with an extended family is a private matter. Importing students from overseas to benefit from education paid by the community and taking profit from it is a business. i doubt in levying property taxes, anyone considered some people make a business out of it. Consumption of resources by a business is a lot higher than most private citizen can manage during lifetime.
These kids are here on student visas, like any other exchange students. The cost of attendance is apparently calculated and must be paid at the time of visa application (equivalent of what the SD spends on a HS student):
I wonder whether these visa students who are legally residing in CA and who graduate from CA high schools are eligible for CA instate tuition rates? Or do only illegal aliens get that benefit?
