Student debt is a driver of low millennial homeownership rates

A ROUGHLY 20 percent of the decline in homeownership among young adults can be attributed to that increase in student loan debt, according to a new report from the Federal Reserve. / BLOOMBERG NEWS FILE PHOTO/SCOTT MCINTYRE
A ROUGHLY 20 percent of the decline in homeownership among young adults can be attributed to that increase in student loan debt, according to a new report from the Federal Reserve. / BLOOMBERG NEWS FILE PHOTO/SCOTT MCINTYRE
NEW YORK - American homeownership has been on the decline, and Federal Reserve researchers point to the high cost of college as one culprit. Just 36 percent of household heads between 24 and 32 years old owned homes in 2014, down from 45 percent in 2005. At the same time, average student debt per capita…

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