IRVINE, CA—The first wave of homeowners who lost their homes to foreclosure or short sale during the recession are, in 2015, are now past the seven-year window they conservatively need to repair their credit and qualify to buy a home. More waves of these potential boomerang buyers will be moving past that seven-year window over the next eight years corresponding to the eight years of above-normal foreclosure activity from 2007 to 2014, according to RealtyTrac.
The Irvine-based firm analyzed foreclosure, affordability and demographic data to provide predictions of when and where these boomerang buyers are most likely to materialize.
Nearly 7.3 million potential boomerang buyers nationwide will be in a position to buy again from a credit repair perspective over the next eight years.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
