In the past, the housing market has been what turned the economy around when it was down. It worked during the Great Depression and any recession that followed. It explains why the government is frantically trying to intervene in order to speed up the revival. The maneuvers to improve the housing market include providing tax credits, bailouts, and other assistance programs that keep people in their homes and persuade others to buy. While some of these attempts have helped at the individual level, overall they simply give the housing market little spikes of good fortune before once again receding. Some experts argue that all of these programs and bailouts might be prolonging the problem rather than solving the root of it. They believe we should just let go and let it hit rock bottom and allow it to recover on its own naturally. Of course, there are also those with the opposing view that believe it would do more harm than good to let the housing market spiral out of control without doing anything to at least try to harness the reigns.

Blog inspired by article written by Mortimer Zuckerman featured in The Wall Street Journal and can be seen here: http://online.wsj.com/article/SB10001424052748703989304575503752698078816.html?mod=WSJ_RealEstate_LeftTopNews