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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Zillow Group Inc | NASDAQ:Z | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
2.35 | 4.55% | 53.99 | 53.98 | 53.99 | 54.015 | 51.88 | 52.00 | 4,247,607 | 20:56:28 |
SEATTLE, Sept. 17, 2015 /PRNewswire/ -- Having a lot of student debt doesn't greatly reduce young people's chances of homeownership, as long as they graduate, a new analysis by Zillow has found.i
The findings challenge a popular concern: that giant student loan payments are holding back people from homeownership. As it turns out, graduates' debt loads don't materially hurt their chances of homeownership – especially if they get at least a four-year degree.
"College students paying their tuition with borrowed money can rest easy this fall in their dorm rooms: the income advantage of getting a degree pays off in terms of being able to buy a home in the long run," said Zillow Chief Economist Dr. Svenja Gudell. "Student debt isn't the evil-doer it's made out to be, at least not when it comes to homeownership. As long as students stay in school and get a degree, student debt doesn't deter them from homeownership, although it is possible that student debt could delay homeownership. People in their 20s and 30s are renting longer because they're delaying marriage, paying a lot in rent, and struggling to qualify for a mortgage when they finally find an affordable home. Add to that list that they are paying off student debt."
Here are some key findings:
Zillow
Zillow® is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow's Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence in local housing markets, both currently and over time. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ:Z and ZG), and headquartered in Seattle.
Zillow is a registered trademark of Zillow, Inc.
i This analysis uses data from the 2013 Panel Study of Income Dynamics.
ii The probabilities come from a model that predicts homeownership on several socioeconomic factors including highest degree earned and student debt outstanding. For the probabilities quoted here we used a married couple in their early 30s with children, and set income and wealth to be the average of a household with similar education levels.
Photo - http://photos.prnewswire.com/prnh/20150916/267464-INFO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/student-debt-not-holding-back-housing-market-300144654.html
SOURCE Zillow
Copyright 2015 PR Newswire
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