Courtesy Adobe Stock/Rabia Elif Aksoy

U.S. households with a head under the age of 35 are more likely to have auto loans than mortgages, according to an NAHB analysis of the Survey of Consumer Finances (SCF).

Across all age categories, the share of families with home mortgage debt (42%) exceeded the share with auto loan debt (34%). For households under 35, however, only 28% have mortgage debt while 39% have car loans. NAHB’s Eye on Housing reports:

Since 2010, the share of households under the age of 35 with auto loan debt has risen, returning to the rates that prevailed in the 1990s. In contrast, the incidence of home mortgage debt has continued to decline in this age cohort. While technically a decline, the incidence of home mortgage debt on the balance sheets of households under the age of 35 stabilized in 2016.

Auto ownership has recovered faster than homeownership for younger households, according to the data. The widening gap between the incidence of auto debt and mortgage debt for this cohort since 2010 may reflect the relative ease of obtaining each type of loan, Eye on Housing reports.

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