The ROAD Act became law on Saturday. It updates dozens of federal housing programs in an effort to boost housing supply and make it easier to build new homes. It also restricts institutional investors from purchasing certain single-family rental homes and creates incentives for local governments to consider zoning and permitting changes. Some of the bill's programs require future funding decisions from Congress.

The next financial crisis will be unlike any in the past several decades. The most likely response will be to resort to another bailout. Long-term debt requirements for all banks with over $100 billion in total assets, an effective lender of last resort facility, and the ability for the FDIC to implement temporary liquidity guarantee programs are necessary before the next crisis.

NYC Opens Section 8 Waitlists for Dozens of Buildings this week. There's a waiting list for Section 8 for the entire building. There are also waiting lists for sections 7 and 8. There is a waitlist for sections 5 and 6 as well.