Out of the 7.3 million homeowners who went through foreclosure or short sales during the bust, about 700,000 are projected to reenter the market this year
Aug. 20, 2015
Boomerang Buyers to Make a Roaring Comeback
Mortgage originator Debbie Cooley-Guy was living the dream during the boom, until the housing market bust flushed everything down the drain.
But Cooley-Guy is one of the 700,000 thousand Americans who are reentering the housing market after losing their homes to foreclosure or a short sale, which badly hurt their credit scores. According to Business Insider, experts say boomerang buyers will be an important segment of the real estate market in the coming years.
For now, it is still difficult to tell if boomerang buyers are affecting the market. Chief Financial Analyst at bankrate.com Greg McBride tells Business Insider: "[Home] prices are rising because of the limited inventory, Boomerang buyers are part of the demand but not a huge component."
