2 ms·
Not comparable at all. The total value of owner-occupied real estate is 2.4 times the total owner-occupied mortgage debt. [1][2] It's not much of a problem ha
by skwirl 9y ago
Not comparable at all. The total value of owner-occupied real estate is 2.4 times the total owner-occupied mortgage debt. [1][2] It's not much of a problem having $300k in mortgage debt if my house is worth $500k. I can sell at any time and pocket $200k.
I can't do anything with a student loan. I can't sell my education. I can't discharge the loan in bankruptcy - something that could be done with a mortgage if I were somehow underwater. There's no way to escape it, and it mostly impacts the young who both have lower income available to deal with it and should putting away as much for retirement as possible.
[1]: https://fred.stlouisfed.org/series/HHMSDODNS https://fred.stlouisfed.org/series/HHMSDODNS
[2]: https://fred.stlouisfed.org/series/HOOREVLMHMV https://fred.stlouisfed.org/series/HOOREVLMHMV