Have noticed a ton more houses for sale in my city, about double of last year. Prices have declined and houses are staying on the market longer. I think people thought interest rates were finally going to go down but with the fed keeping them at their current levels there’s a lot of owners trying to get out of the market while it’s still relatively up. I suspect within another year the bubble is going to burst.
I don’t know if papering over the bad debt with TARPs was exactly a sane response, but it definitely kept the music going long enough to have looked like a good idea in retrospect.
I kind of assume anyone posting in a collapse community doesn’t need a lecture on that, though.