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I don't understand this? Sure there are cheap developers who use trendy finishes with cheap materials and markets as fancy. But luxury exists. googled definiti
by dillondoyle 6y ago
I don't understand this? Sure there are cheap developers who use trendy finishes with cheap materials and markets as fancy.
But luxury exists. googled definition of luxury includes 'extravagant living.' To me that includes
Doorman, butler services, room service and daily housekeeping (e.g. condos at the Ritz), valet, huge amounts of in building amenities. Super high end custom finishings, fixtures, decor which doesn't serve a purpose in terms of extra comfort or use, just aesthetic/signaling.
And the epitome of the logo whore luxury condos celebrity architect firm placing giant $10mm Koons or Kaws lobby sculptures (which funny enough there's an ever more high brow snobby art joke that once you're in the lobby you're done lol).
- imtringued 6y agoThose $10 million condos are wealth traps. Nobody lives in them so nobody gets displaced if a billionaire parks his money in the real estate market of your city. If that billionaire had to buy 10 apartments to park his money the displacement would be very high. This type of "luxury housing" is guarding the rest of the city from foreign demand.
- astrange 6y agoMore generally, a tower doesn't cause displacement because it's built up in the sky. Displacement is caused by taking up land, which single-family houses do the most of because they fit the least people on the most land.