Skip to main content

Survey Highlights Student Debt Impact on Homebuying

Phil Hall
Oct 13, 2016
Hondros College, a Westerville, Ohio-based provider of professional education for the real estate, mortgage and insurance industries, has acquired the Ohio Institute of Real Estate Studies (OIRES), based in Medina, Ohio

The prospect of homeownership is increasingly dismal for those burdened with significant student loan debt, according to a national survey conducted by NeighborWorks America.

In its survey of 1,000 adults, NeighborWorks America found nearly one-third (30 percent) of Americans knew someone that delayed buying a home because of student loan debt, up from 28 percent in a 2015 survey by the organization and just 24 percent in a 2014 survey. Fifty-three percent of respondents that self-identified as potential home buyers with student loan debt said their debt was “somewhat or very much an obstacle to buying a home,” down from 57 percent in 2015 but higher than the 49 percent rate in 2014.

Furthermore, although 60 percent of renters expressed the wish to upgrade into homeownership, 56 percent of respondents said that rents are too high where they live to save enough to purchase a home. Twenty-nine percent of respondents with student debt said they expected to rent again, while 17 percent of people without student debt said their next move would be to rent.

“With the homeownership rate at the lowest point in decades, and minority homeownership plunging even further, these data signal a weak home buying market going forward, despite near record-low mortgage rates and broad-based national income growth,” said Paul Weech, president and CEO of NeighborWorks America.


Oct 13, 2016
Rocket Pro TPO Takes the Lead With Early Loan Limit Increase

EVP Mike Fawaz underscores the move's competitive edge, marking the firm's second consecutive year ahead of FHFA's anticipated adjustments.

Oct 02, 2023
Congress Passes Legislation To Extend National Flood Insurance Amid Shutdown Concerns

The move ensures continued flood insurance coverage, essential for many homeowners in high-risk flood areas, during peak hurricane season.

Oct 01, 2023
Equity Prime Mortgage Launches To Recruit Loan Officers

EPM aims to transform 4,000 retail loan officers into loan originators, emphasizing the growing benefits of the wholesale sector in the housing market.

Oct 01, 2023
Fannie Mae Introduces Spanish-Language Homebuyer Education Program

The new platform, HomeView en Español, aims to bridge language barriers hindering Hispanic-Americans from purchasing homes..

Sep 29, 2023
Layoffs At

After a rocky market debut, has laid off staff.

Sep 25, 2023
CFPB Issues Guidance On AI In Credit Underwriting

Creditors must provide specific and accurate reasons for credit denials, even with complex AI models.

Sep 19, 2023