Can Education Costs Spur More Foreclosures?

According to the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit, U.S. student loan debt increased by $37 billion in Q3, up to a total of $1.44 trillion total as of September 30. A recent LendingTree analysis found that the median debt balance for millennials living in the 50 biggest U.S. cities is $23,064. This massive financial burden must inevitably send ripples out through the larger economy, but is there a correlation between higher education costs and the rate of foreclosures?
That’s the question on deck in the video below, the first installment of our DS News Asks video series. For this inaugural installment, sponsored by Auction.com, DS News looks at a recent study from the journal Demography, which analyzed the potential impact of families with children seeking higher education on the rate of foreclosures. What did they find? Click play on the video below to find out …
https://youtu.be/xmuyl6Ho–k
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