Speculators are helping price-discovery. Care to elaborate how that works for urbanism, esp. in coastal zones? "Discovery" is not even an apt word to use here

Speculators are helping price-discovery. Care to elaborate how that works for urbanism, esp. in coastal zones? "Discovery" is not even an apt word to use here. It connotes there is some "optimal" price towards which supply and demand will converge no matter what, just speculation will help that happen faster. In the real world, urbanistic speculation promotes overdevelopment, which greatly affects quality of landscape and living environment, thus effectively -and, what's worse, irreversibly- changing the value of the land. Does "Tragedy of the Commons" ring a bell?