NAR survey shows how college, student debt affect homeownership

Each year, the National Association of Realtors (NAR) surveys consumers who purchased a primary home in the past year. For 2018, NAR used a 129-question survey of consumers who purchased a.

This confluence of economic trends makes Congress’ impending decision on student-loan rates all the more critical for today’s college students. a scientific survey attempting to pinpoint direct.

"A majority of non-homeowners in the survey earning over $50,000 a year, which is above the median U.S. qualifying income needed to buy a single-family home, reported that student debt is.

The student debt burden not only is keeping millennials from buying a home, but from moving out on their own at all, with the survey showing about 40% of borrowers postponing moving out of their parents’ or relatives’ homes because of student debt, Ramirez noted. Going to college increases one’s chances of finding stable employment and earning the kind of money it takes to buy a home, but student debt is making it difficult for many to save for a down payment, according to NAR Chief.

 · Just over half of the sample (51%) have neither a college degree nor student loan debt; 9% report no college degree but some student loan debt; 20% have a degree but no student loan debt; and 21% have both a college degree and student loan debt.

New Survey Shows the Impact of Student Debt on Homeownership Financial aid in college can be your best friend or your worst nightmare. It can lead to an advanced degree that leads to a better job with higher pay and superior benefits. It can also be a hindrance: it’s the reason why millennials with student [.]

Even if they were able to afford a down payment, 63 percent said they do not qualify for a mortgage, thanks to their debt. However, student loan debt isn’t only impacting non-homeowners. NAR said that 31 percent of current homeowners are not putting their homes on the market, due to student debt.