Recently, the National Association of Realtors did a study regarding the affect of student loans are having on first-time homebuyers. Astonishingly, the number of first time buyers are 29% below their peak of 50% in 2009 – the main reason being the growing student debt payments preventing these buyers from obtaining mortgages. Below is a short 2 minute video explaining the need for some kind of reform to allow the dream of homeownership to be a reality for today’s young professionals.
Student loans have gotten out of control. It seems now that while a student loan costs a borrower interest, it has already started to cost something even more – the ability to buy a home. This statistic will have a ripple effect on the economy, and some reform to the student loan process must happen in order to avert another type of financial crisis.
David R. Madaffari, Realtor
Keller Williams Realty – First Choice
Cell: 225.772.3283 (DAVE)
37325 Market Place Dr. Ste D
Prairieville, LA 70769
Each office independently owned and operated