Student debt has prevented hundreds of thousands of millennials from buying homes, Fed says
|01/17/2019||Posted by BusinessMediaguide.Com under General World News||
- Student debt has risen to $1.5 trillion, surpassing loans for cars and credit cards.
- That has led to fewer young Americans buying homes, according to a new Federal Reserve report.
- Loans have reduced individuals’ ability to afford a down payment and to secure mortgages.
Mounting student debt has weighed on homeownership among young Americans, Federal Reserve economists said in a new report.
Homeownership among those ages 24 to 32 fell to 36% from 45% between 2005 and 2014, according to the report. While student loans were not the main factors influencing the housing market, the Fed said that about a fifth of read more >>>