Either you aren't a student of economics, or you hate grandma.
Grandma and Gramps bought a house in the country. Gramps died, leaving Grandma alone. They neverf had a lot, but they survived.
So now Grandma needs to move into a nursing home. Well that runs $100,000 a year for full care and meals. So Grandma sells her house for a million bucks. And she enjoys the last of her golden years.
Or in your dreamland, Grandma sells her house for what she paid for it, is destitute, and dies in the streets, so some drunk slacker who never tried too hard at anything, gets to live at a prime location, where he spends his days smoking weed, and staring at 16 year olds ijn the boardwalk.
Now do you want to talk about who really fücked over the islands?
The way it is really supposed to work is the lazy fücks go find some place where nobody lives yet, get off their fat asses, and build something that the next generation is going to want, and sells it to them on their own retirement.