Number of Young Homeowners Declines

The number of non-graduates who own a home is now higher than college graduates.
WASHINGTON, D.C. – A new study shows the number of 18-32-year-olds who are becoming homeowners has declined.

The Pew study shows the number of new homeowners is down from 36.1% in 2007 to 34.3% in March 2013.

The New York Federal Reserve also reports that for the first time the homeownership rates among college grads is lower than that of non-graduates.

High debt levels and weak job prospects are leading to mortgages being more expensive. The survey also showed 36% of college graduates are moving home to live with their parents.
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