Tyler Cowen argues that we can't:
It’s an unpopular answer, but the best thing for government to do right now, for the housing market, is not very much. Prices may have reached their bottom in any case. A better monetary policy still could improve the economy and wise investments in human capital will pave the way for longer-run growth and new household formation. There is a common attitude of "something must be done," but the U.S. public sector already has screwed up housing, and not every problem can be fixed by further government tinkering.
The Dish 