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Carrying too much debt is delaying potential home buyers from achieving their aspirations for a median of three years, according to a new report. But for a third of all wannabes, it will be at least 10 years before they can buy a house.
The report from the National Association of REALTORS® (NAR) cites high rental costs as the main obstacle standing in the way of the 12% of all would-be buyers who are having difficulty accumulating the money for a down payment. Almost half of them say their main problem is rent or house payments.