Pent-up demand from boomerang buyers may not materialize


By golfplan18   Follow   Wed, 14 Nov 2012, 6:58am   875 views   6 comments
In Irvine CA 92620   Watch (0)   Share   Quote   Permalink   Like (3)   Dislike  

http://ochousingnews.com/news/pent-up-demand-from-boomerang-buyers-may-not-materialize?source=Patrick.net

A big part of the bullish sentiment toward real estate is the believe that former owners who lost their houses in foreclosure will return in droves to mop up the supply of shadow inventory and push prices higher. But what if they don’t come back? What if they were so burned by the experience that they choose a lifetime of renting instead? A recent study from the federal reserve suggests this may be the case.

Viewing Comments 1-6 of 6     Last »     See most liked comments

  1. Oil Can


    Follow
    Befriend
    21 threads
    163 comments
    Oil Can's website

    1   6:59am Wed 14 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    Yes, I think some of these people should have never purchased a house

  2. The Professor


    Follow
    Befriend (5)
    47 threads
    2,178 comments
    Premium

    2   8:12am Wed 14 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected  

    Billybigrig says

    Agreed, as the old adage goes water seeks it's own level ...

    Too bad all of those underwater mortgages don't float.

  3. gbenson


    Follow
    Befriend
    17 threads
    426 comments

    3   12:58pm Wed 14 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    I have relatives that won't be boomeranging, ever.. Now that they have a taste of just picking up the phone and telling their apartment manager "come get the sink unclogged", they have no intention of buying again. They won't even buy a new washer and dryer because they know if they rent one instead, when it breaks its someone else's responsibility now.

  4. upisdown


    Follow
    Befriend
    1 threads
    1,618 comments

    4   1:09pm Wed 14 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    We saw this a few years back, as the elderly sold off their biggest and last asset, and then either moved in with their boomer-aged children, or rented. For practically all of them, they can't or won't outlive their money and need an easier day-to-day life. It's a hell of a lot cheaper than an assisted living center or retirement home.

  5. The Professor


    Follow
    Befriend (5)
    47 threads
    2,178 comments
    Premium

    5   2:22pm Wed 14 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected  

    Billybigrig says

    Sounds All American like apple pie, Chevy Trucks & the Waltons
    &feature=youtube_gdata_player

    G'night Billy.

    That was a whole different time in America.

    When the Waltons were on you could apprentice your way into a job where you could afford a house.

    A 70's show about how great it was during the depression.

  6. Mark D


    Follow
    Befriend
    240 threads
    892 comments
    Simi Valley, CA

    6   11:23pm Wed 14 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    we'll see a stock bubble before we see another housing bubble.

golfplan18 is moderator of this thread.

Email

Username

Watch comments by email
Home   Tips and Tricks   Questions or suggestions? Mail p@patrick.net   Thank you for your kind donations

Page took 47 milliseconds to create.