The Province: “UBC frathouses evict students to cash in on Vancouver Olympics”

In bubble economies, the pursuit of profits distorts principles even more readily than under normal market conditions. -vreaa

This from an article in The Province, by John Bermingham, 30 Dec 2009

“More than 200 students at the University of British Columbia are being forced out of their rooms by their own fraternities — which have decided to cash in by renting out to 2010 Games visitors. … Five of the eight fraternities are working through a real-estate agency to market their rooms. … Psi Upsilon house manager Aaron Thomson refused to say how much the group is making from its rentals. He told The Vancouver Province the money would go toward a scholarship fund, to pay for repairs and maintenance work, and to top up the fraternity’s contingency fund. “We have this great opportunity where we can fix the house and get all this money,” Thomson said Wednesday. “It is, of course, difficult for most people to have to leave for a month.” Thomson said frat members didn’t have a choice in the matter and no vote was held, but he said the majority favoured the plan.”

One response to “The Province: “UBC frathouses evict students to cash in on Vancouver Olympics”

  1. i wouldn’t worry too much..they are students and can live ANYWHERE temporarily. =)

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