Student loans are becoming a drawback to the housing market and its long term recovery reports

In general, student loans are a great way to fund education, and pay back the loan over time.  Unfortunately, the current economy is in a weakened state, and lack of available jobs means fewer student loans are being paid back on time.  The average debt is $25,000 per student.

Housingwire reports that the number of 25-34 year olds living with their parents has risen 26% since 2007.

Carrying this debt will make qualifying for a mortgage a bit more difficult when it comes to buying a home.  Loan officers use very specific ratios to compare debt to income and other financial guideposts.  Having an additional $25,000 loan to pay each month might be the difference for someone buying a home next year, or having to wait another year or two.  This can only slow down the housing market’s resurgence.

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