> "Rich people" want their property values to be stable or increase. They want their communities to be somewhat static. If I paid $1MM+ for a property in a dens

> "Rich people" want their property values to be stable or increase. They want their communities to be somewhat static. If I paid $1MM+ for a property in a dense CA metro If you buy a $1MM home you are rich, no scare quotes required! I think this explains a lot of the dynamic: rich people do not believe they are rich.