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Boomerang – are Buyers Ready, Willing, and Able?
Tuesday, January 27, 2015
Are you ready for The Boomerang Buyer? That is the latest wrinkle in the seemingly
endless foreclosure saga and there are apparently a lot of them who are now potentially
able to affect the trajectory of housing.
Boomerang buyers are former homeowners
who lost their homes over the last few years, either through short sale or foreclosure. RealtyTrac, in a report released on Tuesday,
say there are 7.3 million of them and the first wave has passed the seven year
mark after exiting homeownership. This
is, the company says, a conservative estimate of the time needed to repair
credit and qualify to buy another home.
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