govt drugs wearing off. housing hangover now

After bottoming out in the first half of '09, the housing market made something of a comeback late last year.

The comeback was stoked in part by public subsidies for the housing market.

Now, key pieces of those subsidies are winding down — namely, the Fed's purchase of more than $1 trillion in mortgages, and the Obama administration's home-buyer tax credit, which paid people thousands of dollars to buy a house.

Riversider, any update from NPR?

When RS wrote this two years ago, the Case-Schiller index went down YOY for like the next 12 months in a row, and was down MOM for probably at least six. So he was correct when he wrote this.