It would also redirect resources towards boring stuff like manufacturing, that actually increases real wealth. But you're right, the fact that so much of our theoretical wealth is in hype, and there's a lot of people who don't want that brought down to more realistic valuations, is what's driving this.
But, you can look at the Chinese real estate market for an example of what happens if you try to keep inflating the bubble for too long.
But, you can look at the Chinese real estate market for an example of what happens if you try to keep inflating the bubble for too long.