Morning Minute: Student loan debt sidelining some Chicago first-time homebuyers

Student loan debt continues to be an issue for some college graduates who dream of buying a home but are juggling high post-college student debt. In the story, “Student loan debt hurdle for Chicago’s wanna-be homebuyers,” WBEZ radio talked to prospective buyers, lenders and Chicago REALTOR® David Zwarycz of @properties about the impact the trend is having on the market. Click here to listen to the WBEZ report.

“The thing that’s really sad about this is that we are, particularly in the Chicago market, at an all-time high of affordability. Interest rates are so low, that you’re able to buy much more of a house. However, if your available funds are being depleted because you’re servicing student debt, you’re losing out on this opportunity.” – David Zwarycz, broker associate at @properties.

In other headlines:

Attention on student loans yields efforts for reform – Chicago Tribune

VA Loans Gain Popularity as FHA Costs Rise – Daily Real Estate News

This entry was posted in Consumer Information, Housing Market by Stephanie Sievers. Bookmark the permalink.

About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.

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