People could qualify for more house because they have more buying power. But because this does nothing for housing supply, the increased buying power will result in higher home prices. The cancellation of debt could cause prices for traditionally cheaper starter homes to rise the most.
If more first-time buyers can afford to get into the market, the competition for these properties is likely to drive prices up. The student debt relief could help buyers save for down payments and qualify for larger mortgages.
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