Last I checked, there's physical limits to that kind of growth. According to the textbooks (and history), if you build a zillion super expensive condos in a sin

Last I checked, there's physical limits to that kind of growth. According to the textbooks (and history), if you build a zillion super expensive condos in a single area without building an equivalent (or more) amount of low to medium income housing the market will rather quickly self-regulate to reduce the value/price of those luxury condos. It's a bubble. Ask Miami how it works out. The vacancies in expensive condos are out of control. If it weren't for wealthy foreign investment trying to park their wealth in "safe" places the value of these properties would plummet. https://www.miaminewtimes.com/news/downtown-miami-has-six-year-luxury-condo-backlog-study-warns-10613118 https://www.miaminewtimes.com/news/downtown-miami-has-six-ye... The bubble will eventually burst and those properties will quickly go bankrupt. Resulting in massive loses to not only other property owners in the area but to the city from tax revenue. Revenue they desperately need to mitigate the effects of global warming.