The United States Federal Reserve recently conducted a study that revealed that the rising cost of student loan debt during one decade played a large role in young adults’ decision to buy a home.
Economists said adults aged 24-32 cited their rising student loan debt costs as a hurdle to home ownership.
Feds say that young adult homeownership declined from 45% to 36% between 2005-2014 partly due to rising student debt, possibly preventing the purchase of 400,000 homes in 2014 alone.
The study suggested that income-based loan repayment programs could ease the financial burdens of those hit by student loan costs.
The U.S. currently has $1.5 trillion in student loan debt.
What is the biggest financial hurdle preventing you from buying a home?
Do you think the government should offer income-based student loan repayment programs?