> This is just trickle down theory The laws of economics are real; increased supply will generally depress prices, damaging an asset's speculative value; incre

> This is just trickle down theory The laws of economics are real; increased supply will generally depress prices, damaging an asset's speculative value; increased prices will generally mean increased profits from building and thus attract more supply. It is always something to find those who deny the laws of economics so vigorously, in the manner that many deny climate change. I am certain that you had a cold winter in Missouri last year, and I am certain that you have found a neighborhood where someone is renovating old housing stock into luxury homes which some weirdoes are renting unused. Nevertheless the general laws hold: the globe warms, and new supply lowers prices. There are a finite number of people who will buy luxury homes of the sort you describe, they have finite amounts of money, many of them have alternatives in which to invest, and it is such a pathetically small and ineffective thing to make an campaign of class warfare against these people the centerpiece of one's housing policy, instead of simply encouraging more building by any reasonable means necessary, public or private, and removing barriers to that building.