Posted: 04 Mar 2013 08:50 AM PST
We have been saying that one of the great risks to the housing recovery is the huge increase in student debt over the past decade. If the universities get the youth to finance their education they will not be in a position to buy, and borrow, for a home. It is not rocket science…
Now the New York Federal Reserve is chiming in and showing that this is starting to happen.
If 85% of the renters making between $50,000 and $75,000 are paying student loans, and we as a nation are seeing tight credit standards for mortgage debt, the housing market is going to be facing a tough road converting these folks into first time home buyers.
And we all know, first time home buyers are the life blood of the real estate market…
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