There is a solution for a current housing debacle: immigration. Legal: speed up Green Card process, temporary increase quotas for countries. It might add about 1 million immigrants, most of which want to buy a house. Of course, this is only some relief on the market, but every little bit of help is important now.
Complete solution needs, well, legalization of illegal immigrants. Total number is about 12 million, if you make usual assumtions (4 people per family, 60% families want and able to own a house), that's going to take about 2 million homes off the market.
Another politically impossible solution for economy...
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