Significantly underwater? You may not live to see a price rebound…

…in what may be the most seriously depressing characterization of the housing market, Robert Shiller says we may ‘never’ see a rebound in housing prices.  Some of his past predictions have been wrong but the man does make a living studying the housing market.  I do think we are far, far from any time of massive recovery.  For millions of people, that will mean default, short sale, or foreclosure.

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