A $750 billion Question?

Reblogger Karen Steed
Real Estate Agent with Tallapoosa, Bremen, Waco, Buchanan, Temple, Carrollton Licensed in GA & AL

Ginny Gorman asks the $750 billion question.  College graduates are leaving school with an average of $25,000 in student loan debt,  Some with much more.  How will this affect the housing market in the future?

If you need real estate in West Georgia or East Alabama call Karen Steed at Haralson Realty 770-574-9221 or 678-521-3585 (cell).

Original content by Ginny Gorman

A $750 billion Question?

It may be bigger than the housing bubble and many of you already know the answer to this question:  

Student Loan Looming Debt Crisis in the U.S.

Answers Needed!

 student loan debt.

Student loan debt is on the rise as students parents who would try to help fund college costs have had to rein in the money pipeline to take care of their own debt and retirement.  CNN money says that the average college graduate is graduating with at least $25,000 of student debt and believe it is much higher than that figure.

So what that does that have to do with housing or the U.S. economy?


The lack of jobs is creating a pressure on graduates to delay paying on their student loans as well as defaulting on them.  This is a real and actual concern to the U.S. economy and to all real estate and associated industries.  People who do not have money, have poor credit just can not buy houses which makes this $750 billion question very distinct and a problem.

According to FICO risk professionals on their most current updates on student loan debt impact, these risk managers see student loan delinquencies rising dramatically.  And as you may or may not know, there is no wiping out student loan debt with bankruptcy…it remains as a debt to be repaid in the borrowers lifetime.
 

Although we hear all this smoke and mirror talk of how real estate is improving it certainly is all local.  We need to be thoughtful and realistic that the housing crisis is not the only issue that has and will continue to hit this economy and impact the continued housing recovery.This is reality and the U.S. government has not taken ownership of addressing how our future graduates will be able to buy real estate with this increase of debt on their backs.  Yes, the $750 billion question needs answers.

 It impacts everyone’s future livelihood, way of life, style of life and home ownership.  So tell me is it a $750 billion Question?

~~~~~~~~~~~~~~~

 Ginny Lacey Gorman is a North Kingstown Realtor who works and knows the Southern RI geographic area of homes for sale, schools, happenings, important tidbits of information and  businesses well.  Waterfront, water view, ocean front, luxury and coastal RI real estate are her specialty, so call Ginny for your buying and selling home needs. As North Kingstown short sale agents, she and her team helps clients navigate successfully the rough short sale waters throughout RI, contact Ginny if you are having trouble paying your mortgage.  When you are in need of an internet savvy RI realtor® who sells homes in this real estate marketcall Ginny today at 401.529.7849.

This blog © and its contents is original to Ginny Lacey Gorman

Ginny L. Gorman a purveyor of Fine RI Real Estate  

Specializing in waterfront, ocean front, vacation, coastal and luxury homes for sale in North Kingstown, South Kingstown, Narragansett, Jamestown, Charlestown, East Greenwich, Exeter, West Greenwich, Westerly RI and beyond ...  I sell dreams!  because there is no place like home...the RI Realtor in the Sparkly Red Shoes.

Looking for a terrific Rhode Island Realtor?  Let me GOOGLE one for you!

            

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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Karen - this is sure a great question. With the rising cost I am sure there will be changes in the approaches. Right now some people think that college is the only way, and kids fail in college, and all they get is debt without any benefits

Jan 12, 2012 02:57 PM #1
Rainmaker
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Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond

Karen, thank you for the re=blog...the word does need to spread..something needs to be done.

Jan 12, 2012 10:26 PM #2
Rainer
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Christina Bergner
CIB Enterprises - Manhattan, NY

College loans are a great problem and burden for College Students and parents.. It's like you damned if you do and if you don't. I may have a solution for the right person. I know of a 22 year old college student who is very entrepreneural and paying her own way trough college, earning a 6 fig. income and having fun. She will be set for life with her p/t income. Whom can I help, parent or student to lighten the load?

Jan 17, 2012 06:21 AM #3
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Karen Steed

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