MRIS Chairman Jon Coile was featured on the WashingtonPost.com Where We Live blog this week with advice for a specific group of younger homebuyers. This group is being referred to as the Boomerang Generation, also known as “boomerangers,” and a recent Pew Research Center study reports that they make up 39% of young adults.
He writes, “There are an estimated 3 million boomerangers living in their parents’ basement, who in better economic times would have created their own households. As they get back on their feet and start conceptualizing the idea of buying their own home, they may be hit with some unanticipated problems when applying for a mortgage.”
In his post, he provides some game changing information for boomerangers who are looking to buy a home in the next few years so they can be ready when the time comes.
Also, look for the article in this weekend’s Real Estate section of the print version of the Washington Post.