Student loans...and other generational impacts on home buying
Student loan debt is having a big impact on the real estate market as many young buyers say their college loans have delayed their saving for a home. That is one of the findings of a new study by the National Board of Realtors on generational trends in home buying.
The Millennial Generation (sometimes known as Generation Y), age 33 and younger, is the largest group of home buyers, purchasing 31 percent of homes nationwide. Most are first-time buyers, and at least one in five struggles to save for a down payment, the study found. Over half of those said student loan debt was a major factor in delaying their savings.