The huge amount of student debt in this country is having a disastrous effect on the housing recovery. Young students leaving college to begin careers and families are burdened by such large amounts of debt that it is affecting their ability to secure home loans and financing. Banks are hesitant to loan money to someone just starting out that is already tens of thousands of dollars in debt.
People my age are in so much debt, before we even have a chance to find a good job in our field, we have to find anything that will pay us to start making payments for school. It's hard to find a good job in a short amount of time, and we all owe sooo much
Student loans are not impacting the housing recovery. This is because most of these loans are Federal loans, which are low-interest. People are not buying homes because they are delaying adulthood. This is how many people of newer generations are. In addition, high credit card debt is more likely at fault as well as low job hopes.
No, Student Loans Debt isn't impacting housing recovery. House prices and lack of affordable homes for first time buyers are impacted housing recovery as well as a downturn in pay combined with a rise in the cost of living. This all means that first time buyers have little left to save in order to buy houses to aid housing recovery