All the economic indicators spell out a doom-and-gloom future for the housing industry and the economy in general. The more I think about it, the more I feel that there will be some sort of government intervention to slow the bursting of the bubble. The government at all levels (federal, county, municipal) has way too much interest in keeping homes priced at this level and keeping them from falling too far, too fast. There’s just too much money to be lost if the housing bubble plays out under market forces.
