Why is property within Tsinghua school district more valuable than a diploma from Tsinghua University? Apart from having investment functions, a personal sense of achievement, and other reasons, the fundamental cause is that although Wudaokou, where Tsinghua University is located, gathers a large number of elites, what was driving local GDP for the past 20 years was the construction of office buildings rather than residential property, making the latter a scarce resource. This is the reason why