As the housing recovery continues, one group of potential homebuyers remains somewhat aloof—young, first-time homebuyers.
The under 35-generation has economists worried that many potential homeowners are sitting on the sidelines, saddled with student loan debt, car payments and other economic worries.
It seems President Obama has the same fears.
The president signed an executive order establishing a President’s Advisory Council on the financial capability of young Americans.
The council will advise the administration on how to improve the financial skills of young Americans, encouraging them to develop skills early on to plan for retirement, college, home buying and other major life milestones.
The council will incorporate feedback not only from the Treasury, but from the Department of Education.
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