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Student Debt Could Reduce Home Sales 8% This Year, Report Says
Higher levels of student debt will reduce U.S. home sales by around 8% this year, according to a report released Friday by John Burns Real Estate Consulting, an advisory firm. The paper examines the impact of student debt on purchase activity for households under age 40. Those households account for around two-thirds of student debt holders. It concludes that sales of new and existing home will total 5.26 million this year, with some 414,000 “lost” households as a result of rising student debt burdens. Higher debt burdens will defer home purchases for many borrowers while requiring others to buy a less expensive ... (full story)
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