Maybe college wasn’t such a good idea. Say what you will about today’s 20-somethings, but they represent the one demographic crucial to sustaining the current rental boom. And one of the main reasons they’ve flocked to apartment living? They are buried under piles of student debt and can’t afford a major purchase, like a home.
According to a report from Younginvincibles.org, Gen Y renters may not be renting by choice, but rather by economic design. In many cases, even if they wanted to buy, they can’t. Take a look at some key findings from the report:
Read more...Debt-to-Income Ratio Keeping Renters in Units - Housing Trends - Multifamily Executive Magazine
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