There are only two outcomes for the housing market, either a crash or hyperinflation. World Central Banks have created approximately $20 Trillion in money out of thin air, in which the Federal Reserve has created almost $4 Trillion. This has been the cause of the boom in real estate. The market will crash once the Fed shrinks its balance sheet for a prolonged period of time, but if the Fed will continues its QE, it will only make the housing market and debt levels more unaffordable until the market becomes completely unrecognizable.
But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost.
– “Helicopter” Ben Bernanke