Still, once the youthful Americans coping with debt and high unemployment finally emerge from under those loads, that group should take the lead in a housing recovery, said Palacios.
"Once you start seeing that segment of the population start jumping into the home-purchase choice, it'll be a good indication of normality returning to the market," he said.
For her part, Schenck, the pharmacy PhD who is now living in Waterford, Pennsylvania, and working as a pharmacy manager for a grocery chain, still wants to buy at some point. She's trying to build enough savings for a larger down payment, to increase her chances of getting a mortgage.
"I haven't given up hope of one day owning my own home," said. Still, "the dream feels like it's farther out of reach than I ever thought it would be."