Items Tagged with 'student debt'

ARTICLES

  • Want to save up for a home? Say goodbye to 54% of your income for 6 years

    It will take the average renter 6 years saving 20% of their income to afford a 20% down payment
    According to research from Zillow affiliate Hot Pads, it will take the average U.S. renter more than six years to save up for a 20% down payment on a home. With rent now taking up an average of 34% of a renter's income and home prices on the rise, the dream of homeownership is becoming more and more distant for U.S. renters.
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  • Here are 5 reasons the Millennial homeownership rate is low

    Urban Institute breaks down the data
    For years, several factors have been tossed around such as high home prices, fear over the last housing crisis, delays in family formation and even student loans as reasons why the younger generation is holding out. But now, the Urban Institute released a study that shows the actual data behind these factors, revealing what is really holding Millennials back from homeownership.
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  • Monday Morning Cup of Coffee: Ben Carson backtracks on plan to raise rents for poor

    Plus what to expect in world economy’s most important week
    HUD released a plan in April that HUD Secretary Ben Carson says will push millions of low-income households toward self-sufficiency. Now, he could be pulling back from that proposed plan. Also, here’s everything you need to know about the most important week of the year for the world economy.
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  • Student debt crisis deepens as Gen Z enters college

    Nearly 40% unsure if they can pay back debt
    As the oldest members of Generation Z turn 23 this year, they are now fully into or even past their college years, but the bad news is the student debt crisis is only continuing to worsen. A new study from LendEDU found Gen Z may be less than prepared to deal with their debt after graduation.
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  • First time homebuyers fall to 4th lowest share since 1981

    Student debt amounts continue to increase
    Low inventory levels are keeping the younger generation from buying a home however, unsurprisingly, student loan debt also continues to play a major role in keeping first time homebuyers out of the housing market. What is shocking is the increase in student debt compared to other industries. But lenders, take note, first time buyers are increasingly considering lower down-payment options in order to buy a home.
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  • Lennar targets Millennials with mortgage that pays off their student loans

    Lennar subsidiary Eagle Home Mortgage offers unique lending product
    A recent study showed that mounting student loan debt is holding Millennials back from buying homes – for seven years. But one homebuilder is trying to make that seven-year delay go away. Eagle Home Mortgage, a mortgage lender and a subsidiary of Lennar, announced Tuesday that it is rolling out a new mortgage program that will help homebuyers pay off their student debt.
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  • CFPB forces companies to pay $21.6 million for illegal student loan debt collection

    Requires audit of 800,000 student loan portfolios
    Studies show student debt continues to be a major hindrance to homeownership in the U.S., however the latest action from the Consumer Financial Protection Bureau shows that debt may not even always be real. The CFPB announced Monday it forced a student loan trust and its debt collector to pay a total of $21.6 million for illegal student loan debt collection practices.
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  • NAR reveals how long student debt delays homeownership

    Debt continues to hold Millennials back in financial decisions
    An overwhelming majority of Millennials with student debt do not own a home, and believe this debt is the cause for the delay. A new study from the National Association of Realtors and nonprofit American Student Assistance showed just how long that delay is, and how much student loans are affecting first-time or even trade-up homebuyers.
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  • New York budget to target homelessness, affordable housing

    Dedicates $2.5 billion in funds
    New York announced its budget late after it surpassed its April 1 deadline. The newly released budget contains many implications for housing, including tuition-free college. A considerable part of the budget is also dedicated toward fighting homelessness and providing affordable housing.
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  • From HW Magazine

    The American Dream revisited

    Why consumers might have to choose between a college education and homeownership
    Today the average student debt resulting from a four-year degree stands at $30,000. According to a report released by American Student Assistance in 2015, 71% of non-homeowners surveyed who carry student debt say the burden of monthly payments has kept them from purchasing a home. More than half of those say their student debt loads will likely prevent home ownership for another five years.
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