Sunday, October 31, 2010
College Educated Graduates Who Can't Buy Homes And Can't Have Families
Dr. Housing Bubble wrote a piece about recent college educated graduates who can't buy homes, because they must service their student loan debt. It is encouraging to see this type of post, as I too have written about the subject countless times here at Education Matters. This angle ought to make policy makers stop and think critically about the student lending crisis and how it is affecting the health of the housing industry. I mean, clearly they don't give a damned about the personal stories of suffering, so perhaps we should try to raise awareness about this fact. Moreover, those who would like to own homes are also putting off having children. Whether or not you support the idea of procreation isn't the issue here. In these situations people can't have children as a result of being indentured educated servants to the likes of Sallie Mae and Nelnet. So you have a generation of recent grads who have no purchasing power and who, not by choice, will remain childless. How's that for a healthy and robust middle class?