There's a difference between new and shiny and new and expensive. The new developments are made with premium stainless steel and granite finishes, unlike the 30

There's a difference between new and shiny and new and expensive. The new developments are made with premium stainless steel and granite finishes, unlike the 30 year old building I live in which was made with cheap vinyl covered MDF cabinets and countertops. There's no non-economic reason people couldn't make modest housing today, they just don't because they can make more money by building luxury housing instead.