- Student loan payments are set to resume in October, and that will weigh further on home affordability.
- Gen Z and millennials looking to buy a home will be squeezed particularly hard.
- A recent Moody’s report found roughly 5 million borrowers will resume paying about $275 a month.
The housing market is already historically unaffordable, but for Gen Z and millennial Americans it’s about to get even more difficult to navigate once student loan payments resume in October.
Millions of student loan borrowers have enjoyed the pause in payments since March 2020, but the end of that moratorium will deliver a “major financial shock” to young adults, according to Moody’s Analytics.
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