Explain this housing bounce to me, please?
So wait, the government throws a bunch of money at homebuyers to get them to buy houses at inflated prices. They sort of do for months, and then, when it appears the free money might end, they engage in a little panic buying to get that free money.
And this surprises Mr. Market? And this convinces Mr. Market that an bump built on market-distoring taxpayer-funded handouts means a sustainable... a sustainable what, exactly?