Links

• Commerzbank sees high risk of housing crash in Sweden and Finland. 

• Structural fiscal deficits in Australia: 

"Ringing the alarm on fiscal policy barely one week after the federal budget, two independent reports from the Parliamentary Budget Office and the federal Treasury reveal a sharp decline in the structure of the budget that will last for most of the decade. The reports show that last week's budget relied on unsustainably high commodity prices to achieve Labor's promised return to surplus in 2015-16, raising the risk of deficits for several years after that."