Boomerang Buyers… They Are Coming!
Yes, the Boomerangs are coming! TransUnion recently released the results of a new study titled The Bubble, the Burst and Now – What Happened to the Consumer?. The study revealed that 1.5 million homeowners–the Boomerang buyers–that were negatively impacted by the housing crisis could re-enter the housing market in the next three years.
TransUnion defined “negatively impacted” as:
“…[T]hose who were 60+ days past due on a mortgage loan, lost their mortgage through foreclosure, short-sale or other non-satisfactory closure, or had a mortgage loan modification between the Bubble and Burst.”
Other interesting findings in the study:
- During the mortgage bubble in 2006, 78 million consumers, or 43% of credit-active consumers in the U.S., had a mortgage
- More than 8% of these consumers were “impacted”
- 5 Million consumers will again be eligible for a mortgage in the next four years
Here are the numbers of consumers who will meet mortgage guidelines over the next four years:
If you are a boomerang buyer, now may be the right time to own a home again. Contact us to find out.