Can you say what this is and how it would address the housing situation?

The housing bubble certainly is a slow moving one at this point. It seems like there's still not a lot of inventory and prices are still at historic highs. Prices haven't come down although price growth has slowed. It's really quite bizarre. We're a mobile a society though, eventually people have to move for various reasons. Maybe people are going to hold on their mortgage and rent the house instead of selling? It's hard to see how all this plays out.

It would eliminate most of the speculation in housing and give strong incentives to build more.

Building more would allow more people to move into job centers which would be good for the economy.