<p>There is discussion above about how many families turning down the highest cost colleges because of cost, but those colleges admission rates keep falling. </p>
<p>The reason is simple - very rich people from China, South Korea, Singapore and other countries are filling the spots and paying full sticker price.</p>
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<p>Let’s also remember that the metro areas/states with the highest average household incomes also have outrageous housing prices (and often higher income and real estate tax rates). A $150,000 family income isn’t so high if you need to spend $500,000 to buy a basic home.</p>