> It suck ls for those who can't afford a place to live because of the inflated prices.

Wouldn't a bubble pop help these people?

Wouldn't the ruling class on the opposite end of the leverage chain have benefited greatly with stacks of cash? The fun party is over now, but at least profit was successfully extracted from others. The extreme losers being people on the other side of the chain, paying mortgages on property that will never be built.