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Pent-up demand from boomerang buyers may not materialize


By golfplan18   Follow   Tue, 13 Nov 2012, 10:58pm PST   963 views   6 comments
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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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Oil Can   Tue, 13 Nov 2012, 10:59pm PST   Share   Quote   Permalink   Like   Dislike     Comment 1

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

The Professor   Wed, 14 Nov 2012, 12:12am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 2

Billybigrig says

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

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

gbenson   Wed, 14 Nov 2012, 4:58am PST   Share   Quote   Permalink   Like   Dislike     Comment 3

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.

upisdown   Wed, 14 Nov 2012, 5:09am PST   Share   Quote   Permalink   Like   Dislike     Comment 4

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.

The Professor   Wed, 14 Nov 2012, 6:22am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 5

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.

Mark D   Wed, 14 Nov 2012, 3:23pm PST   Share   Quote   Permalink   Like   Dislike     Comment 6

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

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