[TampaFla]

At least in this area, the Fed's low interest give aways produced 1000s of speculators. I know several school teachers who bought/moved into/sold a house every year and others who purchased 2nd, 3rd and 4th "investment" properties using the Fed's low interest cash . In fact, the VP I knew at Freddie purchased 12 houses in Oakland........a big part of the subprime mortgages gone bad are because the mortgage is now 1000s x the value of the property. We had condo's here double in price over 2 yrs. and are now on there way back to 1/2 price with full price mortgages.