This article skirts the real crux of the problem: There was never a true real estate "rebound" to begin with!
Offering people credit to buy a home - without addressing the root cause of the problem... 1) forcing banks to lend money to people who can't afford it (against their core business model); 2) people with stars in their eyes taking loans they couldn't afford; and, 3) predatory "experts" in the real estate field who were engaging in willfully deceitful practices to boost their sales-based commissions. With the exception of perhaps #1 (it's back to the old fashioned way there), the rest of this is still going on in some fashion or another.
Without addressing these root causes, the so-called "stimulus" was nothing more than a shot of espresso, and propping up the entire market on toothpicks! Of course it was going to come crashing down as soon as the caffeine and toothpicks were taken away...
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AC of OH 12:33PM September 10, 2010