Overland Park Home Buyers

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:

boomerang home buyers prediction

Bottom Line

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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