Sunday, 28 May 2017

Student Debt Continues to Hamper Home Buyers

Written by Posted On Thursday, 17 November 2016 17:21

Student debt hampers home buyers; it's ridiculous to think otherwise. All debt impacts a home buyer; the insane cost of health insurance, rent, car payments, other personal debt and of course taxes.

Yet many government economists, major housing industry outlets, lenders and others involved in housing mitigate the impact of this debt. In 2015, the average college graduate carried just over 30K in student loan debt. Perhaps not a killer when isolated, but consider those pesky other expenses noted above. Then consider the 19+- TRILLION outstanding national debt and that it translates to a debt of 161K for each tax payer. Fair share? Well consider that 45.3% or 77.5 MILLION households pay no taxes. Fair share?

The result of all of this has been a lethargic first time and first move up buyer pool; many simply cannot find firm economic ground and lack either the desire or means to buy a home. Lenders are loosening up again with the fed's blessing, the zero down and modified credit assessment camps are finding a voice. How that plays out remains to be seen but history has a bad habit of repeating itself.

If the housing market is to truly recover, the economy has to be fundamentally sound. The situation around college tuition is very similar to a bubble - and it likely is. This money is being invested and it appears the main winners are the colleges...

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Hank Miller, SRA

Hank Miller is an Associate Broker & Certified Appraiser in the north metro Atlanta area. Since 1989, real estate has been his full time profession. Hank´s clients benefit from his appraisal and sales experience; they act upon data, not baseless opinions. He is an outspoken critic of the lax standards in the agent community.

Hank remains an active certified appraiser and completes specialty work for FNMA, lenders and attorneys. He is a well-known blogger and continues to guest write for multiple industry publications as well as national outlets like the WSJ, NYT, RE Magazine, USA Today and others. He is a regular on public Q&A sites on Zillow, Trulia and many others.

Hank consistently ranks in the top 1% of all agents in the metro Atlanta area. He runs the Hank Miller Team and is known as much for his ability as he is for his opinions. He is especially outspoken about the lack of professional standards and expectations in the real estate industry.

www.hmtatlanta.com
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