I gotta get back to talking about the Phoenix real estate market instead of all this macroeconomic stuff but with the impending overhaul of Fannie and Freddie, I really want to get a better feel for how any potential changes to Fannie and Freddie might impact the Phoenix area residential real estate market.

Here is a great explanation of the origins of the financial crisis.

I agree with a lot of it and it hangs together well, although I think he may put too much blame on Fannie and Freddie. (I know, I can’t believe I said that myself!)

It’s surprising that he puts so much blame on Fannie and Freddie because the author was a Senior VP, CFO and Chief Economist at Freddie Mac! But I guess there’s no one better to know the political and regulatory machinations that went on there. (Full 126 page report.)