Boomerang Buyers Begin Entering The Market

A TransUnion Study Finds 1.5 Million Homeowners Negatively Impacted by Mortgage Crisis Could Re-Enter Housing Market in Next Three Years.

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, a.k.a. 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 “…those 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

Bottom Line

If you’re Boomerang Buyers that experienced the impact of the last housing crisis, now may be the right time to again buy your own home.

Buyers, got Questions? We have Answers.

It’s not unusual to have questions. We recommend that you prepare yourself for the journey by educating yourself. This will ensure you are a knowledgeable home buyer prepared to make a confident home buying decision. CLICK HERE to read our Buyer’s most Frequently Asked Questions, a.k.a. our FAQs page. If you don’t see the answer, email us, we look forward to helping you!

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