It seems to me that the speculators are legitimately communicating useful information, and fining them is hampering that communication and discourages other inv

It seems to me that the speculators are legitimately communicating useful information, and fining them is hampering that communication and discourages other investors from building more housing. The useful information that high priced vacant housing communicates to me is that there is an anticipation of significantly higher future demand that isn't satisfied by current supply. That should signal for others to build more housing, as there is a lot of money to potentially be made. Or it could be signaling that there are too many things hampering construction of new housing.