Friday, May 9, 2008

Who is looking to buy foreclosures?

A recent survey by Trulia helped determine a little more about who is more willing to buy, or at least look at foreclosures.

  • About 60 percent of single/never-married adults are more likely to be at least somewhat interested in purchasing a foreclosure. People who are single just tend to have less obligation towards finding a nice house now. They don't have a problem purchasing something that may need to be fixed up. Providing adequate housing for their family is not the number one concern for single people.
  • Younger adults, ages 18 to 34, are the more likely than other age groups to consider buying a foreclosure with 69 percent expressing interest. Many in this demographic area are also single. They're young and looking for a deal.
  • Only 32 percent of adults 55 and older are interested in buying foreclosures. Older people are just not as motivated to try something new.

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