You do know someone is owed that money. So macro basis no effect

Anonymous wrote:

Anonymous wrote:Sweet little OP has no idea how much people in this area make. We just bought a million dollar home, we paid off our loans years ago and have made a killing in the market.

Can’t wait to see how this killing is working for you in 6 mos

DP. I know a number of people who paid off their law school loans through the appreciation in their home. A real bummer for me because I paid my loans off before buying a place.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No, because people for whom this affects weren't in the housing market in large numbers to begin with.

You don’t think doctors, MBAs and lawyers were buying homes?

"For whom this affects" = people who would be financially devastated if they had to actually pay their student loans, to the point that they'd have to sell their house or not buy a house. Doctors, lawyers & other professional classes with concomitant salaries can pay all their bills, even if it means they save less.

+100

This is why things like doctor loans have existed for a long time. Because people with student loans in high paid careers have been buying houses for years.

I also suspect that a larger portion of this group refinanced so wouldn’t have benefitted as much from the freeze to begin with.

Anonymous wrote:

Anonymous wrote:So many people about to go back to making $1500/month grad school loan payments.

When do they have to start paying their loans off?

In August

Anonymous wrote:No, all cash buyers aren’t paying student loans.

If anything it will make the shortage of homes for first time buyers worse bc more people will need cheaper homes.

This.

DC region has the highest loan balances in the country because of Grad PLUS loans. It’s going to put elevated pressure on the lower end of the RE market as dual GS15s who could’ve afforded $900K during the loan pause are now looking at $700K homes once payments resume. Maybe there are still a few years out from PSLF.

Anonymous wrote:So many people about to go back to making $1500/month grad school loan payments.

When do they have to start paying their loans off?

Anonymous wrote:Sweet little OP has no idea how much people in this area make. We just bought a million dollar home, we paid off our loans years ago and have made a killing in the market.

Can’t wait to see how this killing is working for you in 6 mos

Sweet little OP has no idea how much people in this area make. We just bought a million dollar home, we paid off our loans years ago and have made a killing in the market.

Anonymous wrote:

Anonymous wrote:No, because people for whom this affects weren't in the housing market in large numbers to begin with.

You don’t think doctors, MBAs and lawyers were buying homes?

We were, but we made enough money to pay off our loans.

It will be hard to get back into the habit of paying $500/mo for a lot of people. If you own a home, you'll cut back on other expenses. If you don't own a home, you'll probably start looking at lower priced properties.

No it won’t.

I have about $90K left on $125K and if all goes well about half will be forgiven by 2026. But I will have paid off more than I borrowed by then.

Anonymous wrote:We have 300k in student loans that will be forgiven July 2024. The freeze helped us save up enough for a down payment on a new house.

PSLF?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No, because people for whom this affects weren't in the housing market in large numbers to begin with.

Exactly. People in debt aren’t taking on mortgages. That would not be a wise move at all.

Pay off those student loans first.

Yes they are. You may not think they should be, but they certainly are.

+1 Of course they are. I don't know anyone who delayed buying a home for their family because they have student loans. I do think that student loan repayment resumption could affect the housing market in that a person's overall debt and asset portfolio affect it. The stock market affects the real estate market a lot. I'm surprised that we don't see this discussed very often here.

We have 300k in student loans that will be forgiven July 2024. The freeze helped us save up enough for a down payment on a new house.