US housing market Crash and the resulting Great Recession are HOAX - they are/were engineered by the right-wing Kabal that controls the US Media
For 2 purposes:
1- To get the Rich MUCH RICHER
2- To get American people to accept a Major War - attack on Iran - because from this war would come full employment and Housing prices going up, as it did from Great depression to WW-II

1st - How can they create a Great Recession/Depression

The 1st question is how could they (the right-wing Kabal aka Goldman Sachs, etc.) cause the housing market in US to go down? Very easy, due to their total control of the Republican lunatics and access to 100s of Billions of Dollars as a result of which they have near total control of the US Media and can get their agents in the right-wing Media, which is 99% of US Media, to say any LIES they want, such as the problem with US economy was due to Middle class not being able to pay their mortgages, Universal nationalized health care health care is "bad", etc. and at the same time they have near total control of the Big pharma, Big insurance to get them to jack up the rates for American people to the point that many could not pay their pathetic $3K per month mortgages. After all avg house prices in US at their high in 2007 were below the pathetic price of $200 per sqft which is lower than avg house prices in Canada, Europe (Western), Japan, Australia, etc. developed nation at their today (2010) prices. So unless US resides on another planet than planet Earth there could not have possibly been a "housing price bubble.." in US given the FACT that avg house prices in US in 2007, at their peak, were below $200 per Sqft which is LOWER than avg house prices are today (2010) in Canada, Europe (Western), Japan, Australia, etc.

Next consider these FACTs:

1- Sale of private jets costing $50Mill and more were at record levels YTD
2- Sale of homes costing $10Mill and more are going as briskly as ever
3- One Apartment complex in New York were apartments sold at $2.5Mill and more sold out in less than 30 days
4- One Google exec just bought a $25Mill mansion in south of France and a $14Mill condo in NYC
5- One Silicon Valley VC just built a $125M Super Yacht in Istanbul and sailed it with entourage of 100 to Nice
6- Not one major Military program has been cut
7- We are building F35s at cost of $200Mill each as if we are the richest country/people on earth
8- Not one 4 Star General has been layed off or has had his pay cut by even 10%
9- $10s of Billions of Dollars of our Taxes are still being sent, in various form, to Israel.
10- We just built a new Military base in Romania at cost of $12Bill+ staffing it with 1000s of soldiers. Of course why not! After all Romania, about 10000 Miles from US, is so vital to our security needs. Not. This would be analogous to if Russia had built a military base in Mexico. In fact we have Military bases in 150 different countries, a feet that NO other country on this Earth comes even close to duplicating in numbers and costs. In fact we have a Military budget that is LARGER than the Military budget of ALL other countries on Earth combined, indicating beyond a shadow of doubt that we are either the richest people on earth or being bankrupted by our Military budget.
etc. etc.

So as you can see from above FACTs the so called economic crisis in US is only affecting the Middle class as the Rich, Big corps, Big Military, etc. are spending just as before, actually more than before as noted with all the records on sale of super expensive goods.

2nd, How does the Wall Street gang get Richer from Great Depression/Recession

HOW is it that the Super rich (aka Wall Street gang) would get much richer from a Great Depression or Great Recession engineered by them? In couple of ways:

1- As you probably know by now for example Goldman Sachs had created Mult-Billion Dollar financial instrument about the US housing market and THEN it had Shorted the same financial instruments that it had sold! Which means it had bet against the US housing market to go down, which means would literally make Trillions of Dollars from US Housing market going down, from US having a Great Recession/Depression. BTW, this would be similar to a Plane manufacturer selling Jet Planes and then betting that these Jets would crash and making Trillions from the Crash of these Jets that it had created and sold AND having designed these Planes to Crash! This is what Goldman Sachs and other Wall Street gang members did and according to US Media, this is quite fine, since GS informed the buyer to "be aware...", proving yet again what a lying (right-wing) medium US Media is.

2- But there is a another even more sinister way: Assume that the rich had $10Mill in net-worth and that the middle class had $1Mill in net-worth in 2006 before this so called "economic crisis". Of course most of the rich have more than $10Mill and most of middle class has/had less than $1Mill , but for sake of argument these numbers will do. So in 2006 the average rich was 900% wealthier than average middle class. But come and remove $1Mill in wealth from the entire economy, so although the rich would have also lost $1mill just like the middle class did, they would end up with $9Mill in wealth whereas the middle class would end up with nearly Zero. So now the rich rather than being 900% richer than the middle class as in 2006, it is INFINITELY wealthier than the middle class who is left with nearly Zero of his/her $1Mill in wealth. Needless to say INFINITELY wealthier is much wealthier than 900%. So on a relative basis the rich are much richer now than the middle class and as a result of which they can now buy the assets of middle class at much lower prices than in 2006 as a result of which they are going to get even richer.

3rd, How could they expect to get away with these deceptions and crimes?

Next you may ask HOW is it that they expect to get away with above deception?

Answer is that those same rich people that are benefiting from this Hoax of "economic crisis in US" also control the (Big right-wing) Media in US so they can lie and lie as they like. Keeping in mind that the entire Big Media in US is right-wing, ranging from the merely right-wing which is CBS, ABC, etc. to ultra right-wing which is CNN, Wall Street Journal, etc. to the ultra lunatic right-wing which is Talkradio, Fox, etc - more on what right-wing Media means here.

The other reason behind having created the Great Depression/Recession: Attack on Iran

So given the above facts and fact based conclusions, one has to ponder the question were/are there other reasons behind having engineered this Great Depression/Recession?

But 1st consider the fact that all the economic problems of US can quickly and easily be fixed by taking the right steps, steps which will benefit the Country (Middle Class) 1st and not the Big Corporation, the Big Military, some of which Steps are:

1- Provide American people with Universal health care, lack of which is driving Millions of American middle class and small businesses into bankruptcy. Something that ALL European countries, Canada, Japan, Australia, in fact ALL, repeat ALL, developed nations have, including Israel the beloved nation of the Republicans.

2- Stop wasting Our Taxes (money) on unnecessary wars, such as Iraq and Afghan wars.

3- Stop wasting our Taxes on a Gargantuan Military, considering the FACT that US Military budget is larger than Military budget of all countries on planet EARTH combined while US economy is not even 15% of World economy anymore.

So given the FACT that NONE of the above steps necessary to put the US economy on the right path are being taken, which Steps Chinese, Japanese, Germans, etc. are taking and that is WHY they have near FULL EMPLOYMENT vs Great Recession in US, One has to face the obvious conclusion that IF this whole Great recession in US was engineered by the right-wing Kabal that really controls the US Government via their near total control of the US Media and financial systems, beside one of the reasons for this Great recession being as outlined above, that is to make the rich MUCH RICHER, are there other reasons as well?

The answer to this question is not as obvious as Goldman Sachs shorting the US Housing Market, but "connect the dots" and one can see another equally ominous purpose behind the Great Recession. That is it is a prelude to an attack on Iran and a resulting WW-III type event. Because even IF 10s of Millions Die as the result of such an action, IF at the end it all of a sudden there will be full employment in US and House prices in US will start going up, as they did going from Great depression to WWII, then American people will say "Oh, what the Hek, so who cares 10s of Millions Died, Now we have Jobs again and our house prices are going up again...", which is exactly what happened as we went from Great Depression of 30's to all of a sudden Government provided full employment of WWII.

And Obama is perfect rouge for these objectives. That is whom better to Green light the attack on Iran than a Black guy named Hussein Osama (sorry Obama), I mean this would be much better to green light such action than that obvious lunatic war-monger McCain would have been. I know it is a mind twister, but the right-wing Kabal behind the US Gov, is perfect at these mind twisting games. I mean look at how perfect Obama fits into the objective of the right-wing War-mongers, that is:

1- Whatever Obama does, such as pass a health care reform that is a TINY step toward Universal Nationalized Health Care, then the right-wing Media in US will label this "ObamaCare and his radical agenda of Socialist want to turn US into a Socialist country....", which obviously is TOTAL non-sense and they know it to be TOTAL non-sense as evident by the FACT that the richest countries in the World, that is ALL European countries, Canada, Japan, Australia, etc. ALL have real Universal Nationalized Health Care.

2- No matter how much a War-monger Obama Admin is, just like Bush was, no matter how much he will do the same as Bush Admin, such as continue the Iraq war the same as Bush did, continue the Afghanistan war the same as Bush did, or be ready to carry out an attack on Iran whenever Israel wants such an attack, then the US (right-wing LYING) Media will say such non-sense as "Is Obama going to let Alqaeda win in Iraq..." or "Is Obama going to appease the Islamist in Afghanistan.." or "Is Obama going to be bullied by Iran and let its friend Israel to get destroyed as a Commi Socialist that Obama is...."

etc. mind Twisting lies and non-sense out of the US Media. More on these later.