[leetcrew]

luxury housing doesn't have a fixed luxury price; it just tends to be more expensive than lower end housing. I just moved into a relatively expensive apartment that is at the upper edge of what I can afford. rent in this area is actually experiencing a bit of downward pressure because several new high-end apartment buildings are going up at the same time. previously I was renting a place that was much cheaper. if the new place had been $100 more expensive, I wouldn't have moved. but I did move, and now someone with less money can live in the place I moved out of. the new building I moved into has many more units than the townhouses it replaced. if enough people like me move into it, they will no longer be bidding up the lower end housing.

[opportune]

I agree! I’m saying we should explain this phenomenon of luxury housing supply opening up more lower end units to people, rather than throwing our hands in the air and lamenting that people just don’t get it