As to what to do for the housing industry specifically and are there things that you can do to encourage housing: One is, don't try to stop the foreclosure process. Let it run its course and hit the bottom.
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Hunt, Kasie (2011-10-18). "Romney says foreclosures should "hit the bottom"". AP/Boston.com.Mitt Romney
Ironically, by transferring the risk of a widespread mortgage default, the government increases the likelihood of a painful crash in the housing market. This is because the special privileges granted to Fannie and Freddie have distorted the housing market by allowing them to attract capital they could not attract under pure market conditions. As a result, capital is diverted from its most productive use into housing. This reduces the efficacy of the entire market and thus reduces the standard of living of all Americans. Despite the long-term damage to the economy inflicted by the government’s interference in the housing market, the government’s policy of diverting capital to other uses creates a short-term boom in housing. Like all artificially-created bubbles, the boom in housing prices cannot last forever. When housing prices fall, homeowners will experience difficulty as their equity is wiped out. Furthermore, the holders of the mortgage debt will also have a loss. These losses will be greater than they would have otherwise been had government policy not actively encouraged over-investment in housing.
Ron Paul
We had a bubble in housing.
Alan Greenspan
A revolution was never fought, throughout history, for ideals. Revolutions were fought for much more concrete things: food, clothes, housing, and to relieve intolerable oppression. … I know of no one, outside of Patrick Henry, willing to die for an abstraction.
William (author) Powell
Had it not been for immigrants, there had been no housing crisis in Oslo.
Carl I. Hagen
If you think that the intifada in France is about housing, go and try covering the story wearing a yarmulka.
Christopher Hitchens
Romney, Mitt
Ronaldinho
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