The US government owns immense amounts of dry land, but the US government also owns far larger amounts of ocean floor. Government ownership of such immense amounts of natural resources causes substantial distortions to prices and markets.
Thanks to easy credit, automobiles have become very complex and luxurious, and brimming with safety features. The cost of producing these cars, however, won't keep prices from falling once the bubble bursts.
The housing bubble has been replaced by a number of new bubbles. Among them is the auto loan bubble. Car loans now last longer than ever and are going to more people with bad credit. This might not end well.