Monday, April 20, 2015

Kim Miller: must read article about the "boomerang buyers"

This is absolutely amazing. With so much focus on new residents from out-of-state moving to Florida to escape the miserable Winters there's been less attention paid to those that live here and lost a home due to a foreclosure or some other reason. We're talking about a lot of people and families. From the article in the Real Time blog:
     Foreclosures and short sales devastated America’s housing market following its 2006 peak, taking down borrower credit and personal savings with it.
     But a National Association of Realtors report released today found that 1.7 million homeowners nationwide who lost a property to short sale or foreclosure between 2006 and 2014, will likely return to the market by 2023.
     That includes 277,000 in Florida, which ranks second only to California in the number of so-called “boomerang buyers.” [emphasis added]