Pop Goes the Bubble
Amid ASW Merriment, Second
Years Attempt to Unload their Homes
Hanover, NH: As
prospective students enjoyed their first full day of
Admitted Students’ Weekend, anxious second years
prepared for their last, best chance to flip their
houses. Many second years, however, were angered by
Tuck’s efforts to stymie the process.
On-Campus Competition
In an effort to improve Tuck’s position in business
school rankings, Admissions has seized on a negative
correlation between age and GMAT score. As a result,
most ASW attendees arrived toting parental permission
slips and 750 GMATs. With a younger class of mostly
single students, there are fewer potential homebuyers.
Some second years also cited a knock-on effect from
improved on-campus housing, which compounds the
demographic shift in the admitted class. “Refinishing
the Buchanan floor is the last straw,” said an enraged
Adam Marcus, T’07. “The Administration’s concerted
efforts to make Buchanan habitable are killing demand
for off-campus housing. Now that the bathrooms have been
swapped and the floor redone, people with strong immune
systems will be able to live in Buchanan.”
Rebranding: The Village at
Sachem
Professor Kevin Lane Keller has been advising the school
on several rebranding initiatives to tap latent brand
equity. Referencing student familiarity with the concept
of “Hanover hot,” Keller advised Tuck to consider new
slogans, including a Buster Poindexter-inspired “Hanover
… Hot, Hot, Hot” and “Hanover: So Hot Right Now.”
The rebranding campaign has now extended to Sachem
Village, the derided yet convenient Tuck housing for
couples with children. Sachem has persistently undercut
local homesellers and landlords; this year Tuck also
launched a marketing campaign to stir interest. The
campaign, featuring spokesmodels Mark Hanrahan and
Heather Gallagher, emphasized Sachem’s “Trailer Park
Chic” lifestyle advantages, a significantly reduced risk
of vicious dog attacks, and a new name – “The Village at
Sachem.”
Education or Propaganda?
Still worse for homeowners, Professor John Vogel taught
a well-attended mini-mini-course for prospectives
entitled “You Should Definitely Rent: Why Only Morons
Would Buy in this Regional Market at this Time over this
Two-Year Horizon.” Jenna Hutchins T’07 served as Head TA
for the course.
Desperate Measures
A despondent Enrique Ruiz Flores T’07 contemplated
donating his Ivy Place condominium to Tuck GIVES only to
withdraw the condo when told that it did not meet the
value threshold for the live auction and would have to
be sold in the silent auction.
The second years’ plight is particularly severe in
scenic Woodhaven Manor. There, the owners of gorgeous,
very well cared-for, well-maintained, 2-bedroom, 1.5
bath condominiums with mudrooms and carports are engaged
in fierce competition for prospective students looking
to live 3 miles or 8-10 minutes from Tuck.
Dean Bob Hansen, who has been studying the developing
Woodhaven situation as a rare instance of perfect
competition in the Upper Valley, delivered some game
theoretical advice to Woodhaven residents, Ken and Angel
Tittle T/TP ’07. The Tittles, seeking to recover the
investment in their home as well as the $10,000 paid for
a Tuck Times advertisement, have at Hansen’s urging
instituted the Woodhaven Doomsday Device. They have
listed their condo at n - $1,000, where n equals the
lowest advertised price on another Tuckie’s Woodhaven
condo. If another Tuckie follows suit, values could soon
careen all the way to zero.
Other homeowners enlisted the help of Coldwell Banker’s
Nan Carroll. Nan’s grandmotherly name and the fact that
she “talks Tuck” give her immediate credibility. On
behalf of several second years, Nan set up a series of
unorthodox but highly effective Open Houses immediately
following the end of the Buchanan post-party on Thursday
night.
An allegedly inebriated William Treacy T’09 visited
Jordan Karp’s (T’07) house. Treacy remarked that he
“loved Tuck, you [Jordan], Meredith, your pugs, and this
entire fucking house” before signing an agreement to
purchase the Karps’ home for $1.2 million.
New Hampshire Supreme Court Chief Justice and Tuck
Professor John Broderick in muffled comments to the
Profit expressed concern that the courts may rule the
sales agreement to be a “contract of adhesion.” “If they
don’t,” he opined, “young Treacy will be in the soup.”
In the event that all else fails, Errik Anderson T’07
pledges to form a REIT to acquire all the listed
properties and continue his slow consolidation of
Hanover and its environs. |