If anything, the Obama administration flubbed its opportunity to stimulate housing by succoring poor, disenfranchised homeowners carrying negative equity on their property these past skinny years.

FORBES: How To Play Housing's Recovery

That situation produced chronic inflation and low, even negative, real interest rates that sent property prices into the stratosphere.

CNN: The Cost of a Pegged Dollar

He maintained a negative investment rating on Singapore's developers and the residential property sector, citing a large supply of unsold apartments, rising vacancies in the rental market and the continued risk of more government intervention.

WSJ: DBS Says Singapore Property Curbs to Hurt Growth

House prices have halved since the Ireland's property market peaked in 2007, leaving an estimated 400, 000 mortgage holders with negative equity.

CNN: Ireland picks through debtors' lifestyles

Of the 90 publicly listed Chinese property developers listed on the Shanghai and Shenzhen stock exchanges, almost two-thirds of them reported negative operating cash flows for the first half of 2010.

FORBES: Chinese Real Estate Bubble Is Bursting

Fears of a property bubble that, if it burst, could create urban China's first widespread experience of negative equity prompted the authorities in Shanghai last week to announce a 5.5% capital-gains tax on the sale of property held for less than a year.

ECONOMIST: Reforms to keep things the same