Student loan debt discourages young adults from taking on mortgages

About half of young adults who rent their homes are reluctant to take on a mortgage due to their student loan debt, according to a recent National Association of Realtors HOME survey. This is despite the fact that 75% of households believe that it is a good time to buy a home.

Young adults should be entering the housing market in greater numbers than they are, but the emotional and financial strain of repaying student loans are putting a damper on their willingness to buy, and NAR representative says.