Anyone who thinks that lower interest rates will trigger another wave of buying isn’t paying attention. The ONLY reason the boom continued past 2003 (some would argue even earlier) was the complete and utter abandonment of lending standards combined with the widespread adoption of toxic waste mortgage products. The market was flooded with “homebuyers” who didn’t actually have any money, artificially inflating demand. As soon as lending standards and down payments return, most of these people will be restricted entry to the market and demand will take a big hit…