The title of this post was previously reserved for politicians but now it seems more appropriate to real estate investors. Apparently [investor speculation in DC [WaPo]](http://www.washingtonpost.com/wp-dyn/content/article/2006/04/21/AR2006042101720.html) was more rampant than we gave fair credit for. _[This was a front page WaPo story on Saturday]_

>Not just condominiums, but also townhouses and single-family houses, were snapped up by investors using no-money-down financing and non-traditional loans. They helped send prices soaring at unprecedented rates.

The [investor element of the housing boom [cnbc]](http://moneycentral.msn.com/content/P149596.asp) appears to be the segment that is suffering right now.

In Florida, the oversupply of [rental to condo conversions are causing the landlords to have second thoughts [SoFl Bus]](http://moneycentral.msn.com/content/P149596.asp). Known as the “condo conversion reversion,” many condos are reverting back to rentals.

Is this unexpected? Not really. You can’t pile on thousands and thousand of units in a market and expect prices to rise indefinitely.

Ever made Hollandaise sauce? You can keep adding butter but risk having the emulsion break and being forced to start over. _[sorry, will try to keep the cooking analogies to a minimum -ed]_