There are 7 million delinquent homeowners, 25 percent of them — or 11 million — are underwater and new delinquencies are coming into the pipeline, which together spells “a receipe for a long recovery,” said Madeline Schnapp, director of macroeconomic research at TrimTabs Investment Research, in this Wall Street Journal video. She estimated the housing market won’t recover for five to six years.
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