{"id":14770,"date":"2019-01-22T14:06:54","date_gmt":"2019-01-22T14:06:54","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=14770"},"modified":"2019-01-22T14:06:55","modified_gmt":"2019-01-22T14:06:55","slug":"young-adults-arent-buying","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/young-adults-arent-buying\/","title":{"rendered":"Young Adults Aren\u2019t Buying"},"content":{"rendered":"

Young Adults Aren\u2019t Buying<\/h1>\n
\"Young<\/a>

Young Adults Aren\u2019t Buying<\/p><\/div>\n

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High student loan debt is one main culprit for the lower rate of home ownership over the past decade, a new study from the Federal Reserve shows.<\/p>\n

Home ownership of all Americans has fallen 4 percentage points from its peak of 69 percent in 2005. It has dropped the most\u2014from 45 percent to 36 percent\u2014among those 24 to 32 years old.<\/p>\n

\u201cIn surveys, young adults commonly report that their student loan debts are preventing them from buying a home,\u201d Fed researchers Alvaro Mezza, Daniel Ringo, and Kamila Sommer write in the paper. \u201cOur estimates suggest that increases in student loan debt are an important factor in explaining their lowered home ownership rates, but not the central cause of the decline.\u201d<\/p>\n

The Fed\u2019s paper did not identify the other causes for the decline in the home ownership rate among younger adults. Researchers attributed about 20 percent of the drop in the rate to high student loans.<\/p>\n

Every increase of $1,000 in debt contributed to a 1- to 2-percentage-point drop in home ownership, the study finds. Researchers note that this equates to about 400,000 people who otherwise would have expected to own homes but have not because of their student loan debt.<\/p>\n

\u201cThis finding has implications well beyond home ownership, as credit scores impact consumers\u2019 access to and cost of nearly all kinds of credit, including auto loans and credit cards,\u201d\u00a0the researchers noted in the report. \u201cWhile investing in post secondary education continues to yield, on average, positive and substantial returns, burdensome student loan debt levels may be lessening these benefits.\u201d<\/p>\n

The National Association of REALTORS\u00ae has also conducted studies showing the impact student debt is having on delaying home ownership. A 2017 NAR study<\/a> found that student debt delayed homeownership by about seven years. It also had an impact on the rest of young adults\u2019 lives, such as holding millennials back from making financial decisions and reaching personal milestones, such as changing careers, continuing their education, marrying, or even having children.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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\u201cStudent loan debt is keeping young people from buying homes, Fed study finds<\/a>,\u201d CNBC (Jan. 16, 2019)<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Young Adults Aren\u2019t Buying High student loan debt is one main culprit for the lower rate of home ownership over the past decade, a new study from the Federal Reserve shows. Home ownership of all Americans has fallen 4 percentage points from its peak of 69 percent in 2005. It has dropped the most\u2014from 45 … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-14770","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nYoung Adults Aren\u2019t Buying - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/young-adults-arent-buying\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/young-adults-arent-buying\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/young-adults-arent-buying\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Young Adults Aren\u2019t Buying\",\"datePublished\":\"2019-01-22T14:06:54+00:00\",\"dateModified\":\"2019-01-22T14:06:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/young-adults-arent-buying\\\/\"},\"wordCount\":361,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/young-adults-arent-buying\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2019\\\/01\\\/01222019.jpeg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/young-adults-arent-buying\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/young-adults-arent-buying\\\/\",\"name\":\"Young Adults Aren\u2019t Buying - 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