Without a World War, our nations, states, cities, and households are in a lurch.

What you have to understand is people have lives and they'll need to move: for school boundaries reason, to downside, to go to new colleges, there will be newly formed households, also with people in close quarters they'll observe that maybe their accommodations are not good enough, too big or too small. 

Baby Step 1 – $1,000 to start an Emergency FundBaby Step 2 – Pay off all debt using the Debt SnowballBaby Step 3 – 3 to 6 months of expenses in savingsBaby Step 4 – Invest 15% of household income into Roth IRAs and pre-tax retirementBaby Step 5 – College funding for childrenBaby Step 6 – Pay off home earlyBaby Step 7 – Build wealth and give!

But I can paint walls, change/fix appliances, drywall, pretty basic household maintenance.

In the 2008 first time home buyer credit, could spouses both get the credit, or is it one per household?  

.— The term ‘‘Federally backed mortgage loan’’ includes any loan which is secured by a first or subordinate lien on residential real property (including individual units of condominiums and cooperatives) designed principally for the occupancy of from 1- to 4- families that is— (A) insured by the Federal Housing Administration under title II of the National Housing Act (12 U.S.C. 1707 et seq.); (B) insured under section 255 of the National Housing Act (12 U.S.C. 1715z–20); (C) guaranteed under section 184 or 184A of the Housing and Community Development 3 Act of 1992 (12 U.S.C. 1715z–13a, 1715z– 4 13b); (D) guaranteed or insured by the Department of Veterans Affairs; (E) guaranteed or insured by the Department of Agriculture; (F) made by the Department of Agriculture; or (G) purchased or securitized by the Federal Home Loan Mortgage Corporation or the Federal National Mortgage Association.

The term "housing bubble" became a household word from each of these events.People believe real estate markets are driven buy the individual decisions made of buyers and sellers and that's true.

I don't know where you got this from. 1/2 of American households live paycheck to paycheck.

I understand why in-progress projects will continue to be delivered, but their absorption numbers seem to indicate they think the formation of households will decrease as well?

People leaving and combining households to trim expenses and recover.