Article by Katie Lobosko | Found on CNN.com
College grads have claimed for years that they were putting off buying a home because of student debt. Now, there’s strong proof that their loans really have pulled down homeownership rates.
About 32% of those in their 20s owned a home in 2007, but that’s fallen drastically to 21% in 2016.
While the poor labor market and memories of the housing bubble certainly played a role, student debt can explain up to 35% of the decline, according to a report from the Federal Reserve Bank of New York released Thursday. Read more