explanation for those that don't get it :
stiglitz is FOR stimulus (in principle) however he disagrees with applying that stimulus in a way that caused property to go up !
if the stimulus was JUST for NEW houses...that's productive and creates jobs and ...
speculation is NOT PRODUCTIVE...
...and flipping is barely a bussines ... it's more like a property racquet (i have the money and ... if you want it, you better buy OFF me!...after i recalculate for 'my cut')...
...it should be illegal !
stiglitz on house prices in australia, page-21
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