I’m very concerned about the future of Boston condominium sales. The amount of debt being accumulated to acquire a college degree is mind boggling.
The FinAid clock below is fast approaching $1 trillion, ratcheting up at the pace of nearly $3,000 per second. Americans now owe more on student loans than they do on their credit cards, a switchover that happened last year.
Consider that the amount you need to borrow to buy a Boston condo depends not only on how much you earn but also how much debt you already have, and you can see the large impact that the student-loan debt (bubble) will have on our local Boston condo market.
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