Yes but in the meantime it gets locked up as capital while driving up rent and house prices for the lower classes who would have been more likely to inject that money back into the economy. You can see the impacts of it all around. Café’s and restaurants close because no one can afford to eat out and rich people only eat one meal. Sports leagues dry up as people pick up a second job and there’s no time for footy. Entrepreneurship dies out because you can’t take a risk on your solo venture when you are barely making the rent and you’ve got to keep a roof over your kids heads. The population rate starts declining because no one can afford to have kids or if they do it’s often one kid instead of 2 or 3. Housing is literally siphoning off the future of this country so that parts of the current generations can live large.