dear gov't - please stop fucking us over

You may have heard of the Administrations new budget plan which is debated here. The best commentary that I have read so far is below:

"The last thing we need now is to give the government (and powerful investors) yet another reason to be invested in maintaining bubble pricing.

As your fellow blogger Dean Baker has pointed out, housing still has at least 20% further to fall before it reaches its historic (inflation-adjusted) trend level. Here in L.A., pricing in some areas remains at 2-3 times that trend level. Quite disturbingly, it remains the stated goal of the administration to stop prices from falling without regard to the trend level, the ownership/rental ratio, or the cost/income ratio.

We as taxpayers are already on the hook for billions with the banks. Any further bailouts should minimize cost to taxpayers while also avoiding further investing the government in artificially propping up real estate pricing. It remains unlikely that such price control is within the government's power. But unless we can accept continuing to tie up excessive amounts of capital in an unproductive asset class and burdening the next generation of home buyers with outrageous mortgages, we need to end the madness and let prices find their natural bottom."