Posted To: Pipeline Press
To start off the week, besides the first full moon on a summer solstice since 1967, here’s an interesting Bloomberg chart about the Federal government's percent of ownership of consumer debt, the money that we owe Uncle Sam. Ever since Obama nationalized the student loan sector, at $1.3 trillion they have taken their percentage of consumer debt from 5% to 28% . Many expect some sort of write-down of student loan debt in the future, and a study by the National Association of Realtors and SALT finds 71% of people with debts from student loans say the load from paying that debt is keeping them from buying a home and adding to it. More than 50% expected it would take 5 years until they felt comfortable buying a home given their current debt load. In news that certainly caught everyone's attention...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/28Iy958
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