Do Student Debts Hinder Home Purchases?
A story in the Washington Post says many young adults getting established in the workforce aren’t buying homes, at least partly because they’re still paying their student loans.
And that, of course, is seen as bad news for economic recovery, the housing market and many other things.
We know, of course, how home construction spurs other industries, because if you are building a house you need lumber, roofing, plumbing, wiring, carpeting, appliances, furniture–well, you get the idea.
I’d have to say I’m grateful I didn’t have college loans to pay off when I graduated. I was the child of parents who were from large families and went as far as the 8th grade, and that was all. They knew the value of education. My father did just fine, but he was always curious and good with numbers, and I’ve always wondered what he might have done if things had been different and he had had more education.
Today, things also are different as well, and most experts would tell you some type of post-secondary education is practically a necessity.
I’ll be honest. I have no answers. But if the predictions are accurate, this could be something we’ll see for a while, if not here at least in other parts of the country.