Sunday, November 03, 2013

No Mortgage For You! Young and smart, but Millennials face homebuying hurdles

CNN Money report:
High debt levels and weak job prospects have made it hard for many young, educated Americans to buy homes, and that could be a drag on the housing market for years to come.

Missed payments on student loan debt damage credit scores, making it harder and more expensive to get mortgages.
There's more:
The result is a decline in the percentage of 18-to-32 year olds heading up their own homes -- just 34.3% as of this past March, according to Pew, versus 36.1% in 2007.

The New York Federal Reserve reported recently that, for the first time, the homeownership rate among college graduates was less than non-grads.
The Obama regime really knows how to shake things up!