Millennials have lower rates of home ownership, and higher tuitions are partly to blame.
Research from the Federal Reserve Bank of New York finds that student debt contributes to the inability of Millennials to buy homes. The study looks to quantify the effect $1.4 trillion of student debt has had on home buying. "As much as 35 percent of the decline in young American homeownership from 2007 to 2015 is due to higher student debt loads, the researchers estimate," Shahien Nasiripour reports for Bloomberg.
Many recent graduates have had trouble paying debts on tuition, which has risen a great deal faster than inflation. "More than half of students who left college in 2009 had either defaulted, missed at least four months of required payments, or were facing higher loan balances five years later," Nasiripour reports.
FULL STORY: Student Debt Is a Major Reason Millennials Aren't Buying Homes
Oregon Passes Exemption to Urban Growth Boundary
Cities have a one-time chance to acquire new land for development in a bid to increase housing supply and affordability.
Where Urban Design Is Headed in 2024
A forecast of likely trends in urban design and architecture.
Savannah: A City of Planning Contrasts
From a human-scales, plaza-anchored grid to suburban sprawl, the oldest planned city in the United States has seen wildly different development patterns.
Washington Tribes Receive Resilience Funding
The 28 grants support projects including relocation efforts as coastal communities face the growing impacts of climate change.
Adaptive Reuse Bills Introduced in California Assembly
The legislation would expand eligibility for economic incentives and let cities loosen regulations to allow for more building conversions.
LA's Top Parks, Ranked
TimeOut just released its list of the top 26 parks in the L.A. area, which is home to some of the best green spaces around.
City of Rochester
Boston Harbor Now
City of Bellevue
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
City of Birmingham, Alabama
City of Laramie, Wyoming
Colorado Department of Local Affairs
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.