[kristjansson]

They're not reserved for the wealthy, they're desirable. Self-driving and associated parking minimum reductions doesn't materially change those economics. If you had permission to build large buildings with an ocean view and beach access ... you'd build it with parking and start the studios at $1m like they do half a mile away on Ocean. Build 115% of the units by omitting parking, and you'd probably still sell a studio for $1m, honestly. The demand is deep, global, and pretty inelastic.

Does Monaco have apartments for $300k? Does the LES? West Palm Beach?