Exactly! Just pop it already!

http://www.theatlantic.com/business/archive/2010/08/home-prices-may-drop-another-25/62049/?source=patrick.net#toolsTop

Those that partook of the RE tax incentive to buy last year will inevitably lose far more than their $8000 tax break. When they realize their loss, they will not look kindly upon their government that perpetuated the bubble at their expense.

I concur.

Trying to delay this adjustment process with schemes like the homebuyers’ tax credit were a pointless waste of money. Our government got millions more people to buy homes at bubble-inflated prices, ensuring that many will lose money when they sell. That is not good policy. Trying to sustain a bubble in the housing market is like having an agricultural price support program, except it is far more costly with far less benefit.

I don't understand the obsession with home purchasing credits and other stimulus for real estate. Why not give that money to everyone as a tax credit and or lower the tax rates temporarily until the economy picks up some steam? If you are not in the market for a house or apt, you get no benefit. Worst yet, if you are unemployed and no longer qualified for unemployment benefits, what good is housing credit?

http://www.minyanville.com/businessmarkets/articles/crony-capitalism-housing-sector-pimco-mortgage/8/19/2010/id/29700

HIDC (the Housing Investment & Debt Complex)