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Is the overheated housing market redefining the 'first-time buyer'

An open house in San Francisco, California.
An open house in San Francisco, California.
Justin Sullivan/Getty Images

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The real estate market is on fire right now. Some see it as a bubble, others think rising interest rates will drive away investors and speculators and spur real buyers afraid of getting stuck with a high interest rate into the market. But the question is, where will those new buyers come from? A new study shows that people with student loans outstanding have a far lower rate of homeownership, and as we take on more and more student debt, who will be the next generation of first-time buyers?

Richard Green, Director of the USC Lusk Center for Real Estate

Chris Thornberg, Founding Partner of Beacon Economics