Economics

Even College Graduates Can’t Afford a Home on the West Coast

College graduates priced out of some of the biggest job hubs
But, grads can find affordable housing in many thriving cities

Aerial Views Of The Bay Area As The City Seeks Break From Rising Rents — Photographer: David Paul Morris/Bloomberg

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By Alexandre Tanzi and Wei Lu

January 18, 2019 at 11:00 AM UTC

This article is for subscribers only.

College graduates earn a lot of money in San Jose but are still $100,000 short to afford a roof over their heads, according to data compiled by Bloomberg.

Soaring home prices, student loan burdens and slow wage growth are delaying many college-educated individuals from achieving the American dream. About a fifth in the decline in homeownership among young adults can be attributed to the increase in student loan debt alone, according to a recent report from Federal Reserve researchers.