STUDENT DEBT EXCEEDS TOTAL VALUE OF FOR-SALE HOUSING INVENTORY
BUILDER | October 15, 2019
Realtor.com® on Tuesday released new data that found total student debt could buy every U.S. house on the market 1.9 times over.
The average student loan borrower owes $34,500 -- $8,500 more than the typical down payment of $26,000.
"Student debt has ballooned to an all-time high as the price of education continues to outpace wage growth, and this is holding back many potential buyers from being able to purchase a home," according to realtor.com®'s Senior Economist, George Ratiu. "Student debt is already impacting borrowers' ability to buy a home and education debt is expected to hamper consumers' financial decisions for many years down the road."...click here to read more