Student loan debt discourages young adults from taking on mortgages

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Even though it's the right time to buy, repaying loans remains the priority.

July 28, 2016

Photo: Pixabay.

About half of young adults who rent their homes are reluctant to take on a mortgage due to their student loan debt, according to a recent National Association of Realtors HOME survey. This is despite the fact that 75% of households believe that it is a good time to buy a home.

Young adults should be entering the housing market in greater numbers than they are, but the emotional and financial strain of repaying student loans are putting a damper on their willingness to buy, and NAR representative says.

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