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Student debt may hamper home sales by 8 percent this year
September 22, 2014
The Wall Street Journal's Nick Timiraos cites a report from John Burns Real Estate Consulting that says higher levels of student debt will reduce U.S. home sales by around 8 percent this year.
The report indicates that around 35 percent of households under age 40 have monthly student debt payments exceeding $250, up from 22 percent of households in 2005. For the borrowers paying this monthly amount, the study estimates their purchasing power is reduced by $44,000. Since 2005, approximately 3.8 million additional households have at least $250 per month in student debt.
More like this
- Student loan debt will stop 414,000 from buying houses this year
- Homeownership Rate Will Decline Further as Demographics Shift
- Student debt may not be the drag on housing we thought it was
- Home prices are closest to all-time high since housing bust
- WSJ asks: Is it really that hard to get a mortgage?
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