A really good overview and analysis of the U.S. Housing Bubble at OCHousingnews.com. The build-up, collapse, stimulus/supply mgmt. and current double dip all covered in detail.
From 2003 to 2006, American lenders and borrowers inflated a massive housing bubble. From 2007 to 2012, this bubble has been deflating, but the bottom is proving elusive. The housing market is closer to the bottom than to the top, and if a viable solution can be found to bring supply and demand into balance, the tremendous affordability from low prices and low interest rates will help a bottom form in the near term.