I'm not quite sure what you mean by a degenerate speculative market, but if you've got some special way to perceive value others haven't, watch out Warren Buffett.

I mean a market selling houses that will never be lived in and exist solely as a speculative investment for foreign buyers, one where corporations and funds behave like feudal lords while people remain renters their whole lives and get evicted at will.

I'm not surprised you don't understand what I mean when I speak of the value of housing if your first thought is Warren Buffet. The value of a house is the stability, safety and shelter it gives to the citizenry, it's allowing people who live in it to prosper and to build families.