A study of Millennials by Deloitte University Press refers to, "the explosion in student debt" as "defining characteristic of the generation." The study says:
Before the recent explosion of student debt, young people with student loan debt were actually more likely to take on other types of debt. To lenders, student loan debt has traditionally signaled that an individual had a college degree that increased earning potential. This is why, until recently, 25-year-olds with student loan debt were also more likely to have auto and home debt than those without student loan debt. That trend has changed in recent years. Now, 25-year-olds with student loan debt are less likely than their student loan debt-free peers to have a mortgage or auto loan"
The combination of high unemployment, high student loan debt, and the bursting of the housing bubble caused homeownership rates to fall even more sharply since 2007 for those under 35 years of age than among the population as a whole.
This type of empirical data, pertaining live-alone homeowners and Millennials burdened by student loans, is not terribly useful to those who start out with an agenda to trash Bill Clinton's affordable housing policy.
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