I BLAME GLOBAL WARMING: Chicago leads U.S. in underwater homes.

More than a decade after the housing bust, the problem of underwater homeownership “remains elevated in Chicago because your housing recovery has been more sluggish relative to what we’re seeing nationally,” said Frank Nothaft, CoreLogic’s chief economist.

Nothaft attributed the slow pace of recovery here to job growth that’s “not as robust” as in other cities and to a years-long struggle with a high number of foreclosures in the wake of the economic downturn of the mid-2000s.

What could go wrong?