Actually, it is the historically low interest rates.
You are right and RedBloodedAmerican shows an extreme lack of common sense.
Had Bush lowered taxes but interest rates soared, housing would have plunged, not risen, so of course the reason is lower rates, not the tax cuts.
This is 1 = 1 = 2 simple common sense that member lacks. And, you and I probably know that the reason rates plunged was due to a recession, then the Fed plugged in some additional lower rates following 911.
Should Bush be blamed for the crash and the recession? Of course not. How can he receive credit for the housing boom without blaming him for the crash and the recession? If he is to get credit for the lower rates that caused the housing boom, then he must be blamed for the crash and the recession. These people that do that are ignorant of economic facts.
Anybody who makes these associations between every economic indicator and presidential performance lacks basic common sense.