This is info I have gotten today, You can do what you like with it....I will not try to digest it for you,just present it. It concerns the state of the US housing market.

I have a very good friend who is a VP at a major financial institution in the US of A.

This morning our conversation led to that his institution is no longer offering mortgages on US property...well, not at commercial rates anyway (8% on a 7 year),

They added that they feel that another 30-40% correction will be coming within the year ahead.

Repercussions would be substantial in the markets,and would lead to a flight to gold etc..It may be temporary, and may not.

Judge yourself accordingly

Hope this helps

royrogers