As everyone knows there has been a massive government effort to support house prices. Some of this has been aimed at limiting supply (modification programs, various foreclosure moratoria), and some has been aimed at increasing demand (tax credit, lower mortgage rates, loose lending standards).
Here is a quote from Secretary Geithner from a recent Newsweek interview by Daniel Gross:
“We were very careful from the beginning … to say that we are going to focus the bulk of the financial force on bringing interest rates and mortgage rates down to cushion the fall in housing prices and help stabilise home values, which will feed into people’s basic sense of financial stability.”
To help keep this straight, here is a list of the status of a number of programs:
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