In the next few months, there's no upside. And this winter, we're going to feel it more noticeably as people pay record gas prices and record home-heating bills.

People are able to pull money out of their homes and put it into their gas tanks. So the overall effects on consumer spending have been small.

The biggest culprits in the housing fiasco came from the private sector, and more specifically from a mortgage industry that was out of control.

In a forbearance, the homeowner pays interest and principal on a smaller mortgage, at least for a time, but still owes the full amount. The lower monthly payment helps with affordability, giving stressed homeowners a break.

Our economy isn't going to recover until the housing market finds its footing.

The impact on pricing is starting to fade.