Massachusetts ranks third in student loan debt nationally, with graduates facing an average balanced debt of $44,020, making homeownership increasingly unattainable.
The high cost of housing in Massachusetts means that, even for those without student loan debt, it would take over 44 years to save for a down payment.
New graduates in Massachusetts have an alarming debt-to-income ratio of 61%, exacerbating the challenges in saving for substantial home down payments.
The Zoocasa study illustrates the severe impact of student loan debt on home affordability, indicating it could take nearly 48 years to save for a down payment.
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