The worst housing crash in history is official

``It is now official. This is worst housing crash since the Great Depression. From 1929 to 1932 new home sales fell by 80 percent. This is understandable given the fact that the Dow Jones fell by 89 percent during this time. However, we just saw new home sales from by 82 percent from 2005 to 2011 eclipsing that last milestone. Yet the Dow Jones is only off of its peak by 13 percent. It is clear where the bailout funds went even though the pretense was to save housing.''