NY Times: Some Say Let The Housing Market Fall

As the economy again sputters and potential buyers flee — July housing sales sank 26 percent from July 2009 — there is a growing sense of exhaustion with government intervention.  Some economists and analysts are now urging a dose of shock therapy that would greatly shift the benefits to future homeowners: Let the housing market crash.

When prices are lower, these experts argue, buyers will pour in, creating the elusive stability the government has spent billions upon billions trying to achieve.

“Housing Woes Bring A New Cry: Let The Market Fall”, David Streitfeld, The New York Times, September 6, A1

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