stiglitz on house prices in australia, page-33

Yeah whatever you say Nuts we know how unbiased your views are. Bottom line is speculating in anything is still the same thing and has it's inherent costs to the end consumer - but that is the result of a free world economy and if you don't like it move to North Korea and let the government control every aspect of your life. Whether the investment is $1, $100k or several million is irrelevant. As for the bloke trying to keep his children off of the street well we are in this lucky country called Australia and at a bare minimum the family will get unemployment benefits (if both parents are unemployed), they will get family assistance benefits, and will they will get rent assistance - all of which are enough for them to survive in a rental property from there it is up to them to improve their life.

So yeah Nuts I know my stuff and I live in the real world.