Boomerang Buyers! What?
TransUnion recently released the results of a new study titled “The Bubble, the Burst and Now - What Happened to the Consumer?” The study shows that a substantial number of consumers (1.5 million) were effected by the housing crisis and are now reentering the housing market. The next 3 years will continue to see an increase of home buyers as their situations improve and rent prices continue to rise. Many of these home buyers are also wanting to reenter the market before home prices and interest rates effect the amount of home they can afford.
If you were one of the 5 million families effected by the housing crisis, now may be the time to jump ship from the increasing rent prices and own your own home again.