On Tuesday The Wall Street Journal published an editorial on the FHA (Federal Housing Administration).  I found it to be a good overview of the situation there.  The editorial can be found at this link:


I find this FHA situation highly disconcerting, especially in light of how similar situations have played out, and are playing out, elsewhere.   This situation is, of course, exacerbated by ongoing weakness in the residential real estate market, which I have commented on extensively. (those blog posts can be found under the “Real Estate” category listed on the right-hand side of the page)  


SPX at 1029.21 as this post is written