student loansNearly 90 percent of millennials say they want to purchase a home in the future, but half haven’t saved for a down payment.

A recent survey found that young people want to be homeowners, but a variety of factors, including student debt, are inhibiting them from doing so, according to CNBC.com.

“Student debt is keeping homeownership out of reach for many millennials,” the authors of the study wrote. “We estimate that 23 percent of college graduates without student debt can save enough for a down payment within the next five years, compared to just 12 percent of college graduates who are currently paying off student loans.”

The average monthly student loan payment increased from $227 in 2005 to $393 in 2016.

For more details, go here: https://www.cnbc.com/2018/12/08/student-loan-burden-barring-millenials-from-home-ownership-study.html?cid=sm_npd_nn_tw_ma