Speculation not limited to the wealthy

John Arnone responds to Burin Kantabutra’s honest appeal for more openness in Thailand’s realty market by unsuccessfully attempting to discredit the entirely open and market-driven US market. In the same breath he wants to maintain the current model which, by his own admission, is dominated by wealthy “speculating” Thais who he thinks would benefit even more were Thai markets to open up. John, speculation does not necessarily increase prices – nor is it restricted to wealthy Thais. Look how speculators fared in the US market.

It’s not clear what point John was trying to make on the US market, but he seems to forget that open markets allow prices to find their true level (eventually) and landowners to sell to the highest bidder – whoever that may be. What is wrong with that?  

Kurt Heck

Phuket