MINYANVILLE ORIGINAL With notable exceptions including David Einhorn and John Paulson most people learned the hard way that you can’t take it for granted that real estate just goes up every year without interruption although for a very long time that seemed to be a reliable idea.  What followed the mortgage meltdown of 2007-2008 was the biggest intervention of government—any government anywhere in history—into the financial markets and banking system and this especially includes the three-phased “quantitative easing” QE1-QE2-QE3 monetary expansion conducted by the Federal Reserve Board with the most recent phase now including purchases of mortgage backed securities ...