Great column over at the Wall Street Journal this morning titled “Signs of Life in the Housing Market.”  The sub-head is “The good news is that the government efforts to prop up prices didn’t do much.”  The author, Gerald O’Driscoll makes a compelling case for how bubbles are corrected: they are allowed to burst.  Once the bubble has burst, market forces find the floor and start over again.  Government intervention does nothing but slow the process.

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