Student loan debts hinder home-buying

Nearly three-quarters of Americans who are repaying student loans say their debt is hindering them from buying a home, according to a survey released Monday.

Although a college degree significantly enhances a person’s chances of gaining stable employment and earning enough for a down payment, the survey found that many would-be homeowners are increasingly burdened by student debt.

The National Association of Realtors joined with the nonprofit American Student Assistance to conduct a survey of only those student loan borrowers who are current in their repayments and therefore mostly likely to be financially ready to make a home purchase.

Seventy-one percent of those surveyed said their student loan debt is delaying them from buying a home.

More than half said they expect that delay to last longer than five years.

With 43 million Americans carrying nearly $1.3 trillion in student debt, the burden is affecting all parts of the economy, not just the housing market.

But the housing market has felt its effects keenly.

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