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Student debt overhang: imprint on homeownership and the economy

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  • Kamila Sommer

    (Federal Reserve Board)

Abstract

Anecdotal evidence points to a potential causal link between growing student debt and lower homeownership after the global financial crisis. Our research suggests that while student debt may have reduced the rate of homeownership, it has not been the central cause of the decline. Student loans can indeed represent a big financial strain on some individuals and households. However, at the macroeconomic level, the impact on homeownership appears only transitory and adverse growth effects of higher student repayments appear to have been small thus far. Any financial stability concerns are mitigated by government ownership of most student loan default risk.

Suggested Citation

  • Kamila Sommer, 2020. "Student debt overhang: imprint on homeownership and the economy," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 55(3), pages 134-137, July.
    • Handle: RePEc:pal:buseco:v:55:y:2020:i:3:d:10.1057_s11369-020-00181-5
    DOI: 10.1057/s11369-020-00181-5
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