Friday, January 31, 2014
Report: Only one fifth of 27-year-old Americans own a home
Young adults with an associate's degree have the highest rate of homeownership.
The study found that today’s 27 year olds are educated, in debt, and living with their parents. To us, the most interesting finding was that of all the respondents to the survey, the group that attained an associate’s degree had a higher rate of homeownership than those with bachelor’s degrees or higher. About 22 percent of respondents live with their parents, of which 18 percent are bachelor’s degree holders.
It seemed that the high level of debt, both credit card and student loan debt, presented a significant barrier to homeownership, with 60 percent of respondents borrowing money for college, and 79 percent of 27-year-olds owing some money, with 55 percent at least $10,000 in debt on credit cards or mortgages.
So, how old is too old to live at home? And are you surprised that so many 20-somethings still live with their parents?
Pegasus News Content partner - Candy's Dirt