I am about 1% worried about the college rental market, if that is what we want to talk about. Here is why:
1. Federal loans, they still make those, so that source of "income" to college students and landlords is not going to dry up.
2. Rich families, most college kids do in fact come from rich families who would prioritize college over other items especially if they are not taking the big vacation this year. You cant even spend your discretionary income if you want to, so those families still have it.
3. Home sucks, College kids are living the time of their lives on campus. Home is the last place where they want to be with mom and dad home 100% of the time and no where to go?
4. Path dependence. College takes 4 years, for the most part you dont stop and start on a dime.
5. Over crowed dorms, we know that covid loves a crowd colleges are making moves to limit amount of students in dorms and they have to live somewhere. So it pushed a fair amount of kids off campus where I am.
I am sure there is other stuff, but that is off the top of my head.