The US housing market may slowly be rebounding. But the construction and buying binge of the mid '00s will never return, and millions of American homeowners may never recover their investment.
Few people have seen quite so much of the property pain the US has been through as Heather Mooney. For seven years she has been a foreclosure prevention officer in Washtenaw County, Michigan, trying to help those in tax arrears and mortgage debt.
She has watched as tens of millions of Americans have suffered astonishing losses when their properties fell in value following one of the biggest bubbles the market had ever seen.
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