How's the housing deleveraging going? (Not)

One graph tells it all - and why the Fed is so afraid of reality. Reinflating a popped balloon is really difficult.

And this post shows how the US has horribly overbuilt houses over the past 20 years. Housing will crash - it's a matter of when, not if. And it will crash regardless of what the Fed, Congress, and the White House does. Also, with millions of jobs lost (and many will not come back for a long time if ever) there will be even less demand for houses, especially the $500K+ mcmansions.