My Two Cents: This very short article from Bloomberg is self-explanatory. Since 2001 tuition has grown 57% on an inflation-adjusted basis while the average wage for for an American between the ages of 25-34 has DECLINED 7% according to Brockhouse & Cooper. Let’s also not forget that you cannot declare bankruptcy on student debt. It follows you around for the rest of your life. Serfs up!
Explosion in Student Debt’ Drags Down Housing: Chart of the Day
The cost of attending college in the U.S. has risen about three times as fast as wages since 2001. Soaring education-related debt will become “a significant drag on the housing market” as former students struggle to obtain mortgages at an affordable rate, according to Pierre Lapointe, a strategist at Brockhouse & Cooper.
As the cost of attending U.S. colleges and universities surges, student-loan debt is turning into “a significant drag on the housing market,” according toPierre Lapointe, a Brockhouse & Cooper Inc. strategist.