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Pent-up demand from boomerang buyers may not materialize

By golfplan18   Follow   Wed, 14 Nov 2012, 6:58am   843 views   7 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.

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1. Oil Can Follow Befriend 21 threads 126 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) 24 threads 1,302 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 16 threads 378 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 631 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) 24 threads 1,302 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 63 threads 480 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.

7. robertoaribas Follow Befriend (23) 55 threads 3,780 comments Scottsdale, AZ robertoaribas's website

   7   6:41am Thu 15 Nov 2012   Share   Quote   Permalink   Like   Dislike   Plenty of people bought the next home BEFORE letting the old one go... Others bought with cash, borrowed from family members, so access to credit didn't stop them.