It is not the banks or housing market

That is dragging this market down.

It is job market, and the pocket of consumers.

You can save banks, but nobody have money to put in banks. You can save GM, Ford, Chrysler, and give them money to build small and more efficient cars.

But nobody will have money to buy it! The house price will go down more. It might go down as low as 2*income for a short period of time.
How many people dumb enough to buy houses and cars when they afraid of losing their jobs or business? None.