Homeownership among Young Americans: A Look at Student Loan Debt and Behavioral Factors

Homeownership among Young Americans: A Look at Student Loan Debt and Behavioral Factors This study uses the National Longitudinal Survey of Youth (1997) to examine the factors that impact homeownership among young adults, with an emphasis on student loan debt. Three key findings arise from the research. First, life cycle and demographic characteristics, such as marital status, education, and income, continue to be strong predictors of homeownership. Married households with a college degree and children are among the most likely to own a home. Second, young adults with student loan debt are no more or less likely to own a home than someone without debt after controlling for a number of factors; however, students who have already paid off their loans are more likely to own a home. Finally, respondents who express a willingness to take risks in finances are more likely to own a home while those who are more conscientious are less likely to own a home. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Consumer Affairs Wiley

Homeownership among Young Americans: A Look at Student Loan Debt and Behavioral Factors

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Publisher
Wiley Subscription Services, Inc., A Wiley Company
Copyright
Copyright 2018 by The American Council on Consumer Interests
ISSN
0022-0078
eISSN
1745-6606
D.O.I.
10.1111/joca.12143
Publisher site
See Article on Publisher Site

Abstract

This study uses the National Longitudinal Survey of Youth (1997) to examine the factors that impact homeownership among young adults, with an emphasis on student loan debt. Three key findings arise from the research. First, life cycle and demographic characteristics, such as marital status, education, and income, continue to be strong predictors of homeownership. Married households with a college degree and children are among the most likely to own a home. Second, young adults with student loan debt are no more or less likely to own a home than someone without debt after controlling for a number of factors; however, students who have already paid off their loans are more likely to own a home. Finally, respondents who express a willingness to take risks in finances are more likely to own a home while those who are more conscientious are less likely to own a home.

Journal

Journal of Consumer AffairsWiley

Published: Jan 1, 2018

References

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