Real Estate isn't a speculators heaven.  Many people have bought income property as a good long term investment to fund their retirements.  These folks aren't speculators and as a bonus they supply the rental market.  30% of Condo's in Toronto are in the rental pool.  I do not support arbitrary government price controls on real estate.  The economy is becoming over managed with government picking winners and losers and I don't think they're doing a good job of it.