More than 5 million households lost their homes to foreclosure between 2007 through the end of last year. But MSN Money reports, many are returning to the market.
“We have a large number of people who were affected by foreclosure and have been sitting in the penalty box,” Mike Orr, director of the Center for Real Estate Theory and Practice at Arizona State University, told MSN. “This ‘boomerang buyer’ group is a pretty substantial potential demand.”
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