Full Citation

Title: The High Cost of Putting a Roof Over Your Head: Young Adults Face Unaffordable Rental and Housing Markets in Major Cities Across the U.S.

Citation Type: Journal Article

Publication Year: 2006

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Abstract: Over the past decade, rents and home prices in major cities across the country have escalated rapidly. As young adults transition from college into the workforce, already owing an average of $20,000 in student loan debt, securing affordable housing in the current market can pose an overwhelming challenge.Because our nations largest cities contain the best prospects for high-paying jobs and professional career paths, young professionals still migrate to major metropolitan areas like New York, Chicago, San Francisco and Boston. The high cost of rent, however, often leaves them trapped in a prolonged rental cycle, unable to save enough money for a down payment on a home, or prompts them to become financially overextended by taking on large, risky home mortgages.

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Authors: Draut, Tamara

Periodical (Full): Demos: Young Adult Economics Series

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Pages: 1-8

Data Collections: IPUMS USA

Topics: Education, Family and Marriage, Housing and Segregation, Labor Force and Occupational Structure, Poverty and Welfare

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