Ben has explained that he is hoping to reduce interest rates on housing, to make them more affordable.
Didn't we get in this mess by people buying houses more than they were worth becuase of government loan programs that allowed consumers to buy houses that they could afford, thus drying up supply and increasing prices.
Since last time we tried something like this it sent our economy into the worst recession since the great depression, I'm sure it won't do the same thing again. Actually it won't because QE won't work, it hasn't worked and it is a failed economic philosophy.
On the side note, if you love to pay more for gas. QE is working great! Crude Oil hits 4 month high.