Is it interesting how a huge financial bubble can be created? Is it something that just happens? Are there dark forces behind it? Who could have known? The basic facts are that a huge amount of credit was pumped through the Federal Reserve and re-circulated by agencies such as Fannie Mae and Freddie Mac. This has been going on since 1992 really, but it went into super acceleration by 2001. This money then was directed to certain locations that were considered highly desirable. These locations included much of Florida, California around Los Angeles and San Francisco, and the Virginia and Maryland suburbs of Washington DC.
In Florida, markets that had the biggest increase in values in this period include Panama City, the
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