Home buyers are increasingly being held back by student debt, according to a new report by the National Association of Realtors and Morning Consult. The report delivers the alarming finding that half of all potential home buyers surveyed this year said they didn’t buy a home due to their mounting student debts. And it’s mostly
Student debt cited as biggest obstacle to homeownership by half of would-be buyers
Millennials say they’re worried they’ll never become homeowners
A significant number of millennials report feeling trapped as renters, saying they’re unable to save enough money to become homeowners, according to a new study from Apartment List. In its 2019 Millennials & Homeownership Report, which analyzes attitudes, expectations and actions of 10,000 millennial renters in the U.S., Apartment List notes that the vast majority
Student debt severely limits buyer’s options, report finds
Carrying student debt, whether for themselves or someone else, limits potential home buyers’ budgets by $92,440, leaving fewer homes on the market they can afford. The average monthly student debt payment for renters who plan to buy a home in the next year is $388, according to the latest Housing Aspirations Report from Zillow. The
Delaying homeownership could cause retirement problems for millennials, experts say
Millennials’ delayed entry into homeownership could have a big impact on them financially when they decide to retire, economists say. The warning comes at a time when many younger adults are delaying buying a home due to a number of reasons, including student debt, inability to obtain credit, and a general preference towards renting. But
Women, millennials’ home ownership dreams held back by student debt
A rising number of consumers say that student loan debt is delaying their ability to buy a home, with women and millennials among the most affected, according to the sixth annual NeighborWorks America at Home report. The survey, which quizzed around 1,000 U.S. adults, found that rising costs have pushed the overall student loan debt
4 Top Reasons Why Millennials Aren’t Buying Homes
Why aren’t millennials buying homes thought they seem to be earning a lot? With the affordability still within the historical average, it is hard to explain why millennials would rather buy iPads than invest in buying homes.
Millennials delaying first home purchase by 7 years due to student debts
The burden of student debt means that young adults are being forced to delay their first home purchase by an average of seven years
Fannie Mae makes it easier for borrowers with student debt to obtain a mortgage
Fannie Mae has altered its underwriting requirements in order to make it easier for would-be home buyers saddled with student debt to be able to qualify for a loan.