Home Size1,068 sqft
Days on Market0
A Million+ Boomerang Home Buyers about to Enter Market
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 that were negatively impacted by the housing crisis could re-enter the housing market as boomerang home buyers 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, boomerang home buyers, 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 family that experienced the impact of the last housing crisis, now may be the right time to again buy your own home.
If you are re-entering the home buying market as boomerang home buyers, join us for “Home Buying Tips for 2016” to see how buying a home has changed.
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(all data current as of 8/22/2019)
Listing information deemed reliable but not guaranteed. Read full disclaimer.