Unfortunately just letting home prices drop to 2001 etc,, will not solve the economic problems for most or the Gov (although I think it will probably happen anyway in most locals) but it won’t help the economy.
Sure it will be great for the 15% or so with a lot of cash in the bank and no debt,
But that does not match the majority of people in the U.S.A. (or our Government) and will just make the unemployment problems worse not better (Gov needs high home prices to keep spending).
It is just going to be a long slow crawl because it’s political suicide to say hey why don’t we just inflate our way out of this mess.
