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A lot of what you're saying sounds like Iowa in the late 80's, early 90's. My chapter is VERY old and wasn't going anywhere regardless of how small we got, but out of 15 chapters, 5 were regularly not making quota, and yet they brought on SK and AGD within 4 years of each other! What they were thinking and why AGD didn't bail before it was too late is beside me. And both of them bought/rented (whatev) crappy houses that were like single family homes compared to the mansions that the older chapters had. Not that they had a choice. The other choice would have been to tear down build.
Iowa's not quite ready for expansion yet, but I could see it in the next couple years. And hopefully SK and/or AGD will have the opportunity to make it right. But when they do, they will have to be prepared to do the tear down/build up mentioned above. Housing is expensive, as it is in all college towns, but not so much that you couldn't justify it with an expectation of years of success. A lovely house, well located that sleeps 40-50 and doesn't have the problems that old houses do could be a real draw, as long as all other things are equal of course.
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"Traveling - It leaves you speechless, then turns you into a storyteller. ~ Ibn Battuta
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