The Federal Reserve and the Wall Street banks caused the epic housing collapse depicted below. Their solutions have made the situation worse. The MSM keeps crowing about a housing recovery based upon miniscule increases in home sales. Sorry folks. We’ve got years of housing pain to go. When you view this chart, you do realize we are in the midst of a 2nd Great Depression. This housing collapse has been far worse than the 1930s collapse. Plus, housing is much more important to our economy than it was in the 1930s. We are still at least three years from a bottom in prices. We are at least a decade from seeing prices get back to 2005 levels. Ignore the crap being shoveled at you by the MSM and National Association of Realtors. There is no housing recovery. It isn’t even on the horizon. Think about it. Mortgage rates are at 1950s levels and home sales have barely budged and home prices continue to decline. This is the epic bust after an epic boom. Thank Greenspan, Bernanke and their Wall Street puppet masters.