The purpose of money isnt' wholly to create value for society; its also to serve as a medium with which to measure the allocation of scarce resources.

If land prices go up, the resources associated with them then get allocated to those who find the greatest utility, and the money goes to other who will then spend it on other things.

If you force prices to stay static, you just get the Bay Area where whoever plopped themselves on the land first gets to keep it, like some kind of landed aristocracy.