Recovery in the economy as a whole appears likely to continue in the second half of this year but parts of the U.S. housing market may remain bogged by roughly 4 million foreclosed or seriously delinquent properties concentrated in certain states, Barclays researchers said as part of a global outlook press briefing in New York.

About 1.9 million out homes in the United States are in foreclosure and roughly another 1.9 million are owned by borrowers 90 or more days delinquent on their mortgages, said Ajay Rajadhyaksha, head of U.S. fixed income and securitized products strategy at Barclays.

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