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Us - Recent Graduates Have Saved A Negative 13% Down-Payment On Their First Home

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I accidentally bumped into a recent report by the Joint Economic Committee of the US Congress entitled The Causes and Consequences of Increasing Student Debt.

A quote:

Two-thirds of recent graduates have student loan debt. Those borrowers had an average balance of $27,200.

Considering the median price of a home in the US is $208,000 according to NAR, the average student debt balance is the equivalent of a 13% down payment. In other words, two-thirds of recent graduates have saved a negative 13% down payment toward their first home. Of course, these are the same people that the bulls are counting on for household formation, population growth, job creation and other equally irrelevant arguments for strong housing demand in the future.

Coming to the UK soon with our graduated starting off with a negative balance of around £40k and the amateurs in the US can only come up with an average balance of $27k. Pathetic they clearly don't know how to generate wealth or sustain house prices.

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  • 242 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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