Student Debt Delays Homebuying (32% Defaulted On or Forebore Their Student Debt)

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by Anthony B Sanders
The Student Loan Debt and Housing Report 2017 by the National Association of Realtors and the nonprofit group American Student Assistance shows that student debt delays household formation, home buying, and saving.
When 51% have student debt greater than $50,000, it will delay buying a home.
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And purchasing a car.
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Any wonder why real estate lending is trending downwards along with credit card and automotive loan growth?
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Here some predictable information from the report. Thirty-two percent of student loan borrowers surveyed had defaulted or forbore on their student loan debt while two-fifths of borrowers who had personal incomes of less than $25,000 in 2016 had defaulted or forbore on their student loan debt in the past.
Of course, Federal government policies and The Fed’s low interest rate policies have help create a monstrous growth in student loans … and tuitions.
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As I tell my students …
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