Young people are less likely these days to take out loans to buy a house or a car. One possible reason: They're overloaded with student debt. That's one takeaway from a Federal Reserve Bank of New York study, which found that some 43 percent of Americans under 25 had student debt in 2012, averaging $20,326. In 2003, just 25 percent had debt, averaging $10,649. For a long time, younger Americans with student debt were more likely to own homes than those without, since college grads earn more. But that trend has reversed, and student debt might be eating into the housing and auto markets. That could have big implications for the U.S. economy: Auto and housing sales have been a huge driver of growth these past few years.
THE WEEK THAT WAS
The long-troubled entertainment complex has new buyers who have a new plan to bring it back to life.
LOSER: Saks Fifth Avenue
Citing poor sales, the upscale retailer will close its WestShore Plaza store next month after 15 years in that location.
Looking ahead:Unemployment numbers come out Friday.