It's confusing that it seems like more than 1% of the population in a given area are buying houses that demand you're in the 1% of income to be able to afford;

It's confusing that it seems like more than 1% of the population in a given area are buying houses that demand you're in the 1% of income to be able to afford; until you realize there are no restrictions (or easily circumvented ones) on foreign ownership. There are LOTS of wealthy people in the world.