A huge demographic wave of millennials aging into their home-buying years is approaching. Meanwhile, a sizable portion of those same millennials are saddled by a record amount of student loan debt.
So, what happens when these two forces collide?
According to Hedgeye Housing analyst Josh Steiner, the data suggests that demand will win out, leading to a favorable housing environment – at least for a time.
“Yes, millennials are under the worst student loan obligation of any generation – but this isn’t anything new,” Steiner explains in the clip above from The Macro Show.
“What you’re going to have over the next three to four years, is a very large increase in the number of people reaching the age at which they would be looking to buy their first home – almost half a million people per year. But then, after that, those people really fall off a cliff. We’ll be in a very different environment after that.”
Watch the clip above for full insight.