A growing number of Americans who lost their homes to foreclosure or a short sale during the housing crisis are re-emerging in the housing market and buying a home again, USA Today reports.
“Boomerang buyers,” as they’re nicknamed, are coming back, and some economists contend they are a critical component to driving a big uptick in the housing market over the next few years.
“I think the next phase of the housing recovery will be partly driven by people in the primary age group” of 35 to 64 who have been hesitant to buy again after losing their home during the housing crisis, Kwame Donaldson, an economist with Moody’s Analytics, told USA Today.
Lately, first-time home buyers and millennials have been driving the bulk of sales. First-time home…