From the great blog, The Automatic Earth:
If Washington would withdraw from the housing market now, home prices would revert to levels that people can actually afford. I don't know if you ever heard of a thing named "supply and demand", but you can look it up in the same dictionary, at the other end of where you found "Bulgaria". Supply and demand, or free market principles, if they were applied to the US real estate market today, would instantly bankrupt all of Wall Street, plus a few thousand smaller banks, plus Fannie and Freddie, and the parade wouldn't stop there. In other words, the entire economy is held together by the government taking money from its people and their children, and using it to prop up a financial system that guarantees those same children will not be able to afford a home of their own.
...
change we can live without
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