No Rise in Home Prices Until 2020?

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From CNBC.com:

Home prices are unlikely to recover before 2020 and mortgage defaults will persist for years, says a survey of bank risk managers out Friday.

The survey ... found that 49 percent of respondents do not expect housing prices to rise back to 2007 levels for another nine years. Only 21 percent of respondents said they would....

“While the housing sector will almost certainly gain strength during the next nine years, many bankers clearly believe prices will remain depressed for half a generation”....

A large number of respondents says they also expect to see an uptick in delinquencies on auto loans, credit cards and student loans.

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Link: http://www.cnbc.com/id/44735283