[throwaway4aday]

This is a quick "fix" that has a lot of unintended consequences. I've seen it first hand and the only people it benefits are those who are already wealthy. Everyone else gets a lot poorer as their cost of living skyrockets. Homelessness explodes as rents and housing costs increase dramatically, people who were living a humble but decent life before are pushed into poverty, crime both non-violent and violent increases and so does drug use. As far as I can tell the only people that actually benefit from this scheme are landlords and housing developers who slow walk their projects so that they can charge the maximum price per unit. Compared to the previous fairly stable state (which you call stagnation) the locals are much worse off. It also tends to ruin the character of places that were previously seen as a vacation destination for a unique experience, all of that just gets paved over and turned into a bland tourist trap barely different from any other place. Count yourself lucky if you live somewhere that has been passed over by this horrid money making scheme.