Young Adults Are Losing All Hope of Buying a Starter Home
JPMorgan analysts say the rising burden of student loans is making it "even more unsustainable" for young people to buy homes
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Because of a growing mountain of student loan debt, young people will find it harder to buy homes in coming years, JPMorgan analysts say.
The student loan debt burden rose 8 percent, to $1.16 trillion, last year. Most of that debt—65 percent—was owed by borrowers under 40 years old. College tuition has been rising faster than the rate of inflation for decades. The double blow of a younger indebted population and higher college costs means "housing is becoming even more unsustainable for first-time buyers," the analysts said in a note.