Skyrocketing student loan debt put homeownership out of reach for 400,000 Americans in their 20s and 30s from 2005 to 2014, according to a new report from the Federal Reserve.
Starting from census data showing a drop of 8.8 percentage points in homeownership among that age cohort, the Fed's researchers estimate that rising student loan balances account for roughly 2 percentage points of that drop, or nearly a quarter of it.
"While investing in postsecondary education continues to yield, on average, positive and substantial returns, burdensome student loan debt levels may be lessening these benefits," the researchers conclude.