A lot of today’s housing stock was originally built as higher-end units, and moved down the chain as it got older. The idea is that when higher-end units are bu

A lot of today’s housing stock was originally built as higher-end units, and moved down the chain as it got older. The idea is that when higher-end units are built now, the wealthy vacate some of their current units, which then have downward price pressure and become middle-range units, and so on.