[eliasmacpherson]

You were content to talk about a hypothetical where there were 10 houses and 12 families. Now you are discontent unless I discuss luxury accommodation in specific property markets within the US. It's worth noting how close each of the metro averages you give is to 5.8%.

All newly build luxury housing will by definition be bought be the rich. There is no assumption about that. The discussion was whether they decide to hoard, rent out or sell their old residence. The trend (global) is clear, e.g. NY, CA, SF and further beyond. https://old.reddit.com/r/toronto/comments/14zdsia/housing_pr...

The decider onto luxury housing being a benefit is whether the poor can in aggregate afford what the rich want for their old accommodation, increasingly, they cannot.

It's not some sort of conspiracy that nice new construction is called 'luxury', whereas less nice new construction is called 'affordable'.

I don't feel I have anything more to contribute.