Boomerang – are Buyers Ready, Willing, and Able?

By Jann Swanson

Posted To: MND NewsWire

Normal 0 false false false EN-US X-NONE X-NONE 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. Boomerang buyers have been around for a while of course. The term was apparently coined by the Wall Street Journal in 2012. In October of…(read more)

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