Fewer College Grads Buying Homes
Updated: Friday, November 1 2013, 05:50 AM CDT
(CNN) A new study this morning says fewer college graduates are buying homes. A Pew study finds a decline in the number of 18-to-32 year olds becoming homeowners. That number is 34-point-3 percent as of this march.
That's down from 36-point-1 percent in 2007.
The New York Federal Reserve also reports that for the first time the homeownership rate among college grads is lower than that of non-grads.
High debt levels and weak job prospects are to blame, making it harder and more expensive to get mortgages.
Also worth noting...according to the survey...36-percent of grads are moving home to live with their parents!