Not prevent it. But around half the purchases in housing being for investment seems a bit distorted. As far as regulation I would start by encouraging lending to productive parts of the economy (business, innovation, startup, infrastructure, etc.) and limit lending for rent-seeking activities like market speculation.
Thanks to banking deregulation housing has become an investment commodity. In major cities in Australia at the moment half the purchases are for investment rather than owner-occupier. Government incentives like first-home buyer grants (if you can't save for a deposit) have only lifted the prices and helped vendors. Another one is negative-gearing introduced a couple of decades ago allowing tax deduction for investment properties making a loss (after rent), pushing prices higher. Only a few years ago the rules were changed around Australian pension funds (superannuation) allowing leverage. Property purchases from these funds sky-rocketed. All of this while Foreign Investment Review Board (who should be in charge of making sure foreign investors only buy new properties) has not had a single prosecution in last 8 years making you wonder if the rules are being followed at all. It is hard not to make a connection between constantly rising house prices and baby boomer generation dominating the government. It has been recently estimated Australian politicians hold a $300m property portfolio. Talk about conflict of interest..
Not only bullshit. I remember in one of the Beatles interviews how early on they found out that some guy in town knew the B7 guitar chord. They would get on a bus to meet this guy to learn the chord. This journey would not exist today :(
Surprised by number of negative comments about ORM-s. Twice I have had to migrate projects between different sql db engines. Once SQL was embedded in the application, second time perl-s DBIx ORM was used from the beginning. Guess which project was easier. Why would you lock yourself into using a specific db engine unless you really had to. And how hard is it to embed SQL for a few specific queries even when using ORM. Lately heavily using Django's ORM and think it is great. And if your data structures so complex that ORM does not do the job maybe something wrong with your schema. I like my data layer simple if possible, and complexity in the application.
Good luck. It could be 6 months you will never forget regardless of what happens in 6 months. Many work really hard chasing elusive goals and forget to enjoy today.
Thanks for the link. Interesting read, especially the line: "The only employee of Goldman Sachs to go to jail in the aftermath of the financial crisis was the employee Goldman Sachs wanted sent to jail."