A central part of the “American Dream” is to buy a house, pay it off over time and retire with hundreds of thousands of dollars of equity in the home.
Student-loan burdens are upending this scenario, according to a study from the Jain Family Institute that found the rise in student debt has become a major obstacle to purchasing a home — especially among relatively high-income young borrowers.
The research brings into question the value of a college degree. For young adults earning $100,000 or more, higher student debt corresponds with lower homeownership in each year of the 10-year study.
Find the article cross-posted in the OC Register here.
From the series:
Millennial Student Debt