Sweden cuts maximum mortgage term to 105 years (the average is 140)

(Hat tip: KimR) - Think there's a housing affordability crisis in Britain, with low mortgage rates likely to drive house prices even higher? Take a look at Sweden where lending policies have been more generous, and where house price inflation has been (at least recently) more extreme. Read more at the UK Telegraph Read More......

Oregon's land use system contributes to housing crisis (OPINION)

...The current affordable housing crisis is devastating families in the Portland metro region, in vibrant regional cities like Bend and even some rural areas. The cause? On a macro level: an economy that is not producing enough good-paying jobs. On a micro level: a dysfunctional land-use planning system.

Read more at Oregonlive.com
(Hat tip: KimR) Read More......

Undisclosed stress test shows FHA could lose $115 billion

The WSJ reported today (Tuesday, June 4) that the FHA had conducted a previously undisclosed stress test which found FHA losses could hit $115 billion under Federal Reserve bank stress test. FHA chose to not disclose the test’s results or... Read more: AEI Blog

Now, don't go feeling sorry for FHA... it's your money they're losing. --bc Read More......

Financial Sense: "Must Read"

Financial Sense, Market Focus: Storm Watch

• CNS News, 6/3/2011 - China Has Divested 97 Percent of Its Holdings in U.S. Treasury Bills
  
• Bloomberg, 6/3/2011 - Moody’s May Cut U.S. [AAA Credit Rating] on Debt Limit Concern
  
• Bloomburg, 6/2/2011 - QE2 Failed to Boost U.S. Spending
  
• Financial Sense, 6/1/2011 - After the Dollar: What Comes Next? (Editorial by Peter D. Schiff)
  
• The Big Picture, 5/31/2011 - Its Official: Housing Double Dip is Here. Without artificial government stimulus, Housing is going lower.

Read More......

U.N.-Usual Suspects

The United Nations has sent a special investigator to look into whether affordable housing is so hard to find that it constitutes a human rights violation. Her destination? New York, Washington D.C., Chicago and three other U.S. cities.

U.N. special investigator Raquel Rolnik's mission is to tour the American cities and report back to the U.N. General Assembly. The New York Post editorial board writes: "Since 2000, the U.N. has had a housing investigator looking into shortages in such obvious places as Cambodia, Kenya, and Iran... but this is its first foray into U.S. territory — and it remains to be seen whether she'll call for Donald Trump and other landlords to be hauled before the International Criminal Court." --Fox News Channel's Lanna Britt contributed to this report. Read More......