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It is more important to protect innocent working or non-working families or individuals from inflation that thoughtless speculators from the consequences of their own folly.

If only it were possible to differentiate between those who bought a modest house as a home; as shelter, from those 'thoughtless speculators' who bought houses as pure investment plays. One line to be spanked and the other reassured. Ah well.

But wait! Fortunately for most concerned, there is only one side to the house price "debacle." Prices are dropping—the deflating bubble—but mortgage rates are still historically low and probably will continue to be for some time.

So, joy! Those you did by a modest house as a home; for shelter will be able to continue making those mortgage payments. And those 'thoughtless speculators' are already being spanked. Who says there's no Santa Claus?
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