Thursday, January 24, 2019

Homeownership and Student Loans

DID YOU KNOW? Homeownership among people ages 24 - 32 fell 9 percentage points, to 36% from 45%, between 2005 and 2014, the Fed said. While many factors affected the homeowner rate, the Fed said 2 percentage points or about 20% of the decline was tied directly to student debt which now totals $1.5 trillion. That translated into 400,000 borrowers who could have owned a home by 2014 but didn’t because of student loans. (WSJ)

89% of Millennials plan to purchase a home in the future but simply can’t because of student debt. 48% have ZERO saved for a downpayment. (CNBC)
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