Irrational speculative frenzy vs. intelligent investing for appreciation can have more to do with timing than anyone would like to admit.

They are not the boogie man that many landlords have a irrational fear of.Wait and see, do not be intimidated by the fear mongers.

Honestly I think some of it is trading irrationally based on projections rather than performance.  

My why- To be irrationally generous. 

They're all acting like the world is coming to an end, which in itself is an irrational expectation, and who knows what the Democrats in California are going to do.

It is very easy to get lost in the moment while bidding, basically due to your adrenaline rushing, excitement, anxiety, and sometimes irrationality when having to make a split second decision when your bidding.

So supply is not the only problem... speculation and irrational exuberance are also primary factors. 

The trick is to not make irrational bets just based on the gross cash flow numbers.  

I was trying to convince my Mom to sell last time prices made an irrational run up.  

That can't be the only consideration, I don't believe all the other REI taking place in Seattle is irrational.