And it is not working.
Recent immigration is a net drain on the economy due to very high participation rates in the welfare system.
The oligarchy benefits from suppressing wages and undermining the job market. It is very much at the expense of the former middle-class wage earners. This is a "liquidating economy" which ends with an impoverished peasantry ruled by a small and fabulously wealthy aristocracy.
We have seen this movie before.
A re-arrangment of property ownership, sponsored by associations of realtors, lawyers (invested), judges (invested), political party bosses (invested), China (invested), liberal suburbia for Biden (invested), etc.
More debt means more failures and thus, a flow of properties to those vested interests.
IOW, get property, cheap.