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Student debt is holding back Millennials from buying homes.

Jan 17 2019

Student debt is holding back Millennials from buying homes. The Fed reports that the percentage of 24-32-year-olds who own homes dropped from 45% to 36% from 2005 to 2014. Two percentage points (roughly a fifth) of that decline is being attributed to student debt. But here’s the catch-22: “Basically the only way to get your foot in the housing door is to have a degree, even if it comes with debt,” explains CoreLogic Inc.’s deputy chief economist. (WSJFederal Reserve)