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Speculators didn't buy multiple dwellings with any assumptions they were 'protected' by government. This was clearly a LACK of regulations and oversight by government.
Of course. And in a way I agree with you. The only way government intervention in our economic decisions really works is to go all the way, with a full blown state-run economy.
It's the vague middle ground that's killing us.
You must believe the Soviet Union was a smashing success. The state run economy doesn't work either, and for the same reason the government intervention doesn't work.