Such piss in the wind policies are demonstrative of the bind that governments fund themselves in when lobbyocracy prevails. Here in Australia we have the same problem you have - speculators holding society to ransom.
We have a published vacancy rate for housing at 'record lows' here in Melbourne, but yet our I Want to Live Here survey found that there was a 7% genuine vacancy rate rather than the 0.7% published. Marketed scarcity helps bump up prices for those who already own some of the planet.
http://www.earthsharing.org.au/2008/12/08/2008-i-want-to-live-here-report-release/
Stop speculation in the building blocks of life - the natural resources we were all gifted, by switching taxes off our hard work and onto the land and natural resources that should be used for housing, not hocking.