A Million+ Boomerang Buyers about to Enter Market

   For BuyersHousing Market Updates

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 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 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:

Bottom Line

I know from first had experience, If you experienced the impact of the last housing crisis, now may be the right time to again buy your own home.