More Boomerang Buyers Are about to Enter the Market

    More Boomerang Buyers Are about to Enter the Market | MyKCM

    We previously informed you about a study conducted by TransUnion titled, “The Bubble, the Burst and Now – What Happened to the Consumer?” The study revealed that 1.5 million homeowners who were negatively impacted by the housing crisis could re-enter the housing market between 2016-2019.

    RecentlyHousingWire analyzed data from the US Bankruptcy Courts and revealed that 6 million Americans will have their bankruptcies disappear off their credit reports over the next five years and that this could “possibly send a flood of more homebuyers into the housing market.

    The chart below shows the total number of bankruptcies filed by year in the US over the last 10 years. The light blue bars represent over 3.3 million people who have already waited the 7 years necessary for their reports to no longer include their bankruptcies.

    More Boomerang Buyers Are about to Enter the Market | MyKCM

     

    How would this “send a flood of more homebuyers into the housing market”?

    As the article mentioned, in 2010 the number of chapter 7 bankruptcies increased to nearly 1.14 million. Now, 7 years later, they will begin to fade from credit histories, enabling prospective buyers to become homeowners again once their credit scores improve.

    As we can see from both reports, the homeownership rate has the opportunity to increase drastically over the next few years with all of these boomerang buyers returning to the market.

    Bottom Line

    If your family was negatively impacted by the housing bust, here is the light at the end of the tunnel! You may be able to purchase your dream home faster than you think! Contact Roseburg Properties today at 541.371.5500 or sold@marygilbert.com.

    By: KCM Crew

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    Mary Gilbert

    Mary Gilbert, Licensed Realtor in Oregon has distinguished herself as a leader in the Roseburg OR real estate market. Mary assists buyers looking for Roseburg OR real estate for sale and aggressively markets Roseburg OR homes for sale. Mary brings with her a keen eye for the details of buying or selling a Roseburg OR home and seemingly boundless determination and energy, which is why her clients benefit from her unique brand of real estate service. Rooted in Tradition, Focused on the Future –Mary Gilbert of Keller Williams Realty Umpqua Valley will help make the most of your Roseburg OR real estate experience. Give her a call today, 541-371-5500, and discover the difference she can make during your family's move.

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