The socialists issue propaganda to stall on foreclosures, so property taxes will stay high enough to prevent layoffs of political regulators. Fewer local regulators means less power over us private sector slaves. But those foreclosures are coming sooner or later, and property taxes will go down (recent tax hike attempts already stopped by voters).
And real estate will fall as long as we Baby Boomers fall in an avalanche of croaks—at least the next 20 years or so. Have fun. Enjoy the slide. There won’t be any recovery, until millions of redneck men making products in small, free shops again begin to generate sustainable revenues. By then, we’ll see better leadership.