Millennials have been especially hit hard by the pandemic fueled crunch on the housing market, but many say the heavy burden in of student debt is preventing them for becoming first-time home buyers. NBC News’ Antonia Hylton has the details.
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#StudentLoanDebt #RealEstate #HomeOwnership
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Competition isn't pushing costs higher NBC, anticompetition is.
Girl! You ARE WRONG.
GO PAY OFF YOUR STUDENT LOAN!
LIVE ON A COUCH. THEN BUY A HOUSE!
DEBT REPAYMENT?. WANT A HOUSE YOU CANT DO 500K SIMPLE
I’m a millennial with 60k in student debt. I just bought my first home. My lender was willing to work with me and I saved up enough for a down payment and closing costs.
560k in student loans? Are you kidding me? That's a failure…
this just in: water is wet!
The loans and their penalties were, and are, used to set off and define a massive federal debt and, at the time they were issued, used to support some unusually outrageous academic scams.
🤔How to Go Into Debt
✅ Pick a degree based on personal likes rather than profit.
✅ Go to out of state schools, increasing tuition.
✅ Defer payments while letting loan interest continue.
✅ Graduate and reward yourself with a nicer apartment or vehicle instead of paying off the debt.
I bet she stayed on campus and ate on here loan money. It's the colleges fault putting these kids in this mess
Sis, if you have $200,000 in student loans you cannot afford to buy a home.
I don't won't their debts on my taxes . I worked very hard my hole life to have what I have . It wasn't gave to me
😄 I get a kick out of hearing these people complain for CHOOSING to go to college and rack up debt. Always hearing them talk behind my back for starting the worm force straight out of high school. Well, a decade later…. I own a home. I have savings. I have a new car that is completely paid off. I have NO debt. And now these people are trying to get MY tax dollars to "cancel" their debt? I don't think so. 🤔 haha, have fun living paycheck to paycheck. Deuces.
Nothing to do with "millenial" this applies to all of us. Many still have student loans all across the board….it needs to all get canceled. Tiny homes, open land that we can grow food on and thrive as communities is what needs to happen. We have been trapped and enslaved by the govt….it is time for change for all of us. We were all sold on a bunch of debt forevr!
So you saying house sale prices could be even higher if these young people did not rack up huge debts and were able to join the bidding wars. Lady "deserves to be safe" in a big house in a nece neighborhood. Stop releasing criminals.
She is too young for a home anyway
Where are these ladies husbands? You need two incomes to qualify for a significant mortgage these days.
Considering the lack of ambition of many people in our society who choose to do nothing with their lives, i have so much respect for those who pursue and complete higher education and you all DO NOT deserve to be in this situation of hindering debt. BUT…no one forces you into these loans, you are a willing participant in this issue, the finance numbers are presented to you before you sign for it so it's ridiculous that you get offended when they start billing you for it or when it affects your debt to income ratio for loans SMH.
Welp…..don't make agreements that you cant fulfil. It's not up to the rest of us to fund your worthless degree
There will be someone on here who will say it’s her fault for getting a doctorate…
How about not going to school for a useless major and you will be able to pay your student loans.
I see millennials complaining about their student loans but they are driving new BMW’s. Can’t pay their student loans but they get a new IPhone every time one comes out. Can’t pay their student loans but they are carrying a $500 designer purse.
It’s always someone else’s fault, no one held accountable for their own actions.
now the gov wants to force these people to have the financial burden of children, student loans, housing and energy? WTF? What is going to happen when most of the country is living in poverty?
Millennial who got a job-focused degree. In fact, 2 degrees from state schools and an internship program. Then paid them off by going into a state service job that had low numbers and was incentives by PSLF. Have a home so maybe you'se all should have not gotten a communication degree from Union College that cost you 100k.
Is a nightmare!!! I owe a lot and I have good credit!
Try rocket mortgage and not a typical bank around the corner. They are very good rates and no I do not work for them.
You’re not working that hard if you only worked with two lenders. I used to be a mortgage underwriter and I couldn’t buy a house myself until everything aligned three years ago. I’m 50 and I still have under $40,000 in student debt. I agree that Biden has to do something because he’s a liar if he doesn’t follow through with his campaign promise but you as an individual have to work a little harder and be your own advocate.
Native Indians had it good 👍 until the white people came and put Native Indians in debt and now American,s can't even own a home just like the indian's it's funny how karma works
For heavens sake. They act like the first generation to have student loan debt. Get off your lazy butts, work hard, and stop trying to be a crypto millionaire. This generation can't even change a tire!
this is also racism…they should look into that because i know lots of people with student loans who got a mortgage
This is a bunch of BS! Guidelines have changed over the years where the guidelines take into account income based repayment plans even is the payment is $0. These people just need to get on income based repayment. FHA now has changed guidelines when it comes to student debt. The 2nd person they interview dont think they have tried hard enough in getting a mortgage. Makes no sense paying 800 more than what a mortgage payment would be, well obviously she CAN make the mortgage payment. I have 60K in student debt AND I will not let that stop me from buying. Yes interest rates on fixed loans have gone up, but solution to that are ARM mortgages which have lower rates, but would need to be re-financed to fixed rate loan, but they buy time till interest rates come down again. A lot of lenders have overlays which tend to be more requirements. Anyone who wants to buy a home should contact Gusto Cho Associates, they work with people to get the deal done and have no overlays.
Free money
This is why you shouldn't listen to boomers.
Millennials joined the military. Free college and a VA loan. There’s no problem here.
What does color have anything to do with student loan debt, why does everything have to be race? We’re all just people struggling.
Who can afford a home even without student loan debt these days?
Millennials still rely on mommy and daddy to help them. Totally pathetic generation.
Nobody cares about dolts getting sociology and ethnic studies degrees at major universities and owing $100,00 and making $35,00 a year.
This is the new Jim Crow, discrimination against Marginalized Demographics is a daily occurrence. These ladies might try to move to an affluent black neighborhood or Ex Patriating to a more favorable country where they are treated better and their ability to find a suitable partner increases by 95%. This Video should address the similarities between Baby Boomer and Millennials.
560,000????
I try to buy home. I was unable because I own student loan 90,000. I have my estable job for 23 years. I pay rent 750