Posted by: phillipsre | July 16, 2013

Student Debt Putting a Damper on the Housing Market

studentloanvshousingAs hard as college students work to get out of college and pay their bills and get by in today’s expensive world, the reality of the matter is 38 million Americans carry a total of $1 trillion in student loans, surpassing what is owed nationally on car loans and credit cards. This amount of debt could seriously put a damper on the housing market, as these students are getting out of college, they are not thinking about the home they are going to purchase, they are thinking about the debt that they will be paying off in the years to come.  This debt, along with recession-related job losses, are believed to be responsible for a decrease in sales by first-time home buyers to 28 percent in May from the usual level of 40 percent, according to the National Association of Realtors.

This article, outlines a few example of college student’s struggles and discusses the hardships that students are facing in this day and age, which will take its toll of the housing market.

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