I’m not convinced anyone’s DOING anything to prevent RE prices from dropping. The politicians are talking a good game, but DOING nothing. The Fed is considering the effects on the economy, but holding rates steady. The banks/market are tightening lending standards, but only renegotiating loans when it’s in their interest.
My suspicion is that aside from banks waiving refinance fees and granting more forbearances, no one’s going to DO anything of consequence until prices drop another 10-15%, and then probably not until it’s too late
