Nearly one half of home sales over the last year went to first time buyers – most of them couples in their 30’s. Maybe concern about college loan debt forcing a much longer delay in buying a first home was overblown.READ MORE: 4 San Jose Double Homicide Suspects Arrested; Drugs, Weapons Seized
“Student debt means that households are educated, and they earn more,” Ralph McLaughlin, Chief Economist for Trulia told KCBS.
McLaughlin says that a college degree plays a bigger role than it used to. 62-percent of last year’s home buyers have at least a 4-year degree.READ MORE: Update: 3 Injured In San Jose Stabbing; Suspect Fatally Struck By Truck On Highway 85
“In the long run, their earnings are going to be a lot more, than households without college degrees, and we think that will be a big boon for them to buy a home eventually,” McLaughlin said.
Another surprise recently showed up in some Trulia research – not all retirees are chomping’ at the bit to down-size.
“Grandparents want to have their children, and especially their grandchildren visit, and that would also push boomers to buy bigger homes if they can accommodate the family,” McLaughlin said.MORE NEWS: Secretary of State Approves Sonoma County’s Voter’s Choice Election Model
That leaves older Americans split nearly 50-50 as to whether they want a big home or a smaller one.