How bad is the student loan debt crisis?
November 17, 2020
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In today’s HousingWire Daily episode, Realtor.com’s Senior Economist George Ratiu discusses how student loan debt is impacting the nation’s financially strained borrowers.
For some background on the interview, here’s a brief summary of a recent HousingWire article on student debt and first-time homebuyers:
What is holding back potential homeowners from buying? According to the National Association of Realtors 2020 Profile of Home Buyers and Sellers, 47% of potential homebuyers said student loan debt was the biggest obstacle in saving for a down payment.
In addition, 43% cited high rent/mortgages and 36% cited credit card debt as factors getting in the way of saving for a down payment.
This year, the number of first-time homebuyers dropped to 31% from 33% last year, the lowest share since 1987 when it was 30%.
Student loan debt as a barrier to homeownership was covered back in July by HousingWire’s Lead Analyst, Logan Mohtashami. Logan also tackled the issue last week.
HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.
HousingWire articles covered in this episode:
