The market was reacting to changing conditions, of which most people aren’t aware. All rising markets have speculators, but they are only a small percentage. It sounds to me like you have an issue with them. The people you don’t like I mentioned in my previous post.
"Don't like" is rather a stretch. "Consider unwise" is closer to the truth. I'm more of a disinterested observer, talking about markets like you would talk about the weather. But...and this may be telling...my current housing expenses are under fifteen percent of my income. I'm deliberately limiting my stake in the real estate market.