This is what happens in democracies. The local councils and city governments open their doors and drool over anyone willing to buy property. Property price rises and thus increases the revenues they can bring in any play with. There is almost no incentive for a government to keep housing affordable. Then we end up with disenfranchisement on the scale of London's: Londoners and actual British citizens and residents are told kindly to screw off while the billionaires build their playground and stash away their dirty money. You see this in Vancouver, Sydney, Hong Kong, New York; the list goes on.