June 7, 2013 |
Builders are eyeing the next wave of potential home buyers - the so-called millennials - but whether this rising generation will embrace big mortgage debt remains an open question. These 95 million people ages 10 to 32 outnumber their baby-boomer parents by 10 million. The young adults among them, sobered by the recession, have relatively modest material expectations; many say they'd be happy with smaller living spaces. The housing industry will have to convince the next generation that home loans are as necessary and prudent as the student debt so many of them already carry.
April 19, 2009 |
Couples in the process of divorce spend a lot of time divvying up their assets. But in today's miserable economy, experts maintain that soon-to-be-exes should take even greater care dividing up the debts. Otherwise, your former spouse's job loss could end up hitting your balance sheet -- and credit report -- years after you think the divorce is settled.
December 16, 2012 |
Among the many aftereffects of the popped housing bubble is the perception that many young adults have been spooked into doubting that they'll ever own a home — or even aspire to own one. Not true, says a new survey from a major real estate company, which contends that 18- to 35-year-olds do indeed like the idea of owning homes, and they've learned a thing or two from watching their parents struggle with the housing market. And by the way, that young adult child of yours, the one who has moved back home and established residence in your basement?
March 5, 2006 |
Margo Alpert is on the 30-year plan. Every month, $500 to $600 is automatically deducted from her salary to pay off college loans. By the time the 29-year-old Chicago public interest lawyer is in her mid-50s and thinking seriously about retirement, she will finally be free of college debt. "It's going to be part of my life forever," Alpert said. "I don't think about it at all because it's just a fact of life."
February 21, 2013 |
The millennial generation is aggressively whittling down its debt, as young people forgo homes and cars, according to a new study. The median debt of households headed by people under age 35 fell 29% between 2007 and 2010, according to the analysis from the Pew Research Center. That compares to a mere 8% decline for households of those 35 and older. Even more impressive, the percentage of younger households with debt of any kind dipped to 78%, the lowest since the federal government began gathering the data in 1983, according to the study . But it ain't coming easy.
December 6, 2009 |
Last June's college graduates face a tough choice this month. That's when the automatic six-month deferment on their student loans expires, forcing them to start repaying the money or beg for additional time. Never have students been so deep in debt and so unprepared to pay. The average student is carrying a record debt load of more than $23,000, according to a just-released report by the Project on Student Debt. Meanwhile, unemployment among college graduates ages 20 to 24 is the highest in recorded history, at 10.6%.
June 13, 2012 |
As Americans continue to borrow more to pay for college, many are confused and frustrated at the process of dealing with private student loans. The Consumer Financial Protection Bureau disclosed the depth of the problem Wednesday by publishing nearly 2,000 comments from borrowers, advocacy organizations and other agencies. The federal agency removed names and other identifying information from comments. Many were angry with lenders for not making terms and conditions clear, such as how to consolidate a series of loans.
October 29, 2010 |
The Education Department on Thursday issued regulations governing for-profit colleges, a rapidly expanding education sector that has been criticized in Congress for allegedly providing students with poor educations while saddling them with excessive debt. Issued after a year of negotiations, the new regulations are intended to improve the Education Department's ability to monitor the institutions, including compensation for recruiters, and the ability to take action against schools that engage in deceptive advertising and marketing.
February 16, 2014 |
WASHINGTON - Parents, grandparents and young adults know the problem only too well: Heavy student-debt loads, persistent employment troubles stemming from the recession, plus newly toughened mortgage underwriting standards are all standing in the way of vast numbers of potential first-time home buyers in their 20s and 30s. But are there effective techniques that family members, friends, even employers can use to bridge the generational gap by...
August 12, 2013 |
Tell The Times how your family is dealing with the current job market. Although the economy is slowly picking up, Californians of all ages are struggling with their employment situations and their finances. In many cases, family members are stepping in to help. Are you a twentysomething who is working multiple part-time jobs and living with your parents? A fortysomething supporting your parents or children? A sixtysomething who is facing depleted retirement savings and looking for work?