Millions Of 'Boomerang Buyers' Could Reshape Housing Market

Published April 20, 2015 at 10:25 AM PDT

Signs are seen outside a foreclosed home and a house for sale February 24, 2009 in North Las Vegas, Nevada. (Ethan Miller/Getty Images)

The first wave of millions of homeowners who lost their home to foreclosure may soon be on the market to get back into buying real estate.

These so-called “boomerang buyers” are now past the seven-year window they need to begin repairing their credit to qualify to buy a new home.

CBS News business analyst Jill Schlesinger tells Here & Now’s Lisa Mullins about these boomerang buyers and how they may change the housing market in the next decade.

Guest

Jill Schlesinger, business analyst at CBS News. She tweets @jillonmoney.