This is not an innate trait of capitalism. This is due to tax favorability of land speculation compared to other options. Add zero interest rates to it and acce

This is not an innate trait of capitalism. This is due to tax favorability of land speculation compared to other options. Add zero interest rates to it and accelerate flows of all the extra money to into further land speculation. I can easily imagine a society, capitalistic or not, that doesn't subsidise land speculation, which doesn't suffer from real estate bubbles.