But I'm not sure you're right about developers wanting to just develop a few luxury condos and artificially restrict the number of units they build. I shouldn'

But I'm not sure you're right about developers wanting to just develop a few luxury condos and artificially restrict the number of units they build. I shouldn't have implied there necessarily was anything artificial or conspiratorial involved. I mean, some times there can be but it's quite possible that building a few high priced luxury units is the most profitable decision for an individual builder. Luxury condos cost a lot to build and can be sold for a high markup over costs. A many-unit building for average people is not going to have the same markup so even if you build more units, your total profit can be less. Per the article, the per-unit costs of all the planning / permitting / construction / land / special interest earmarks make the per-door cost to be the $1 million quoted. So you're saying regulations push builders to only build luxury housing - which is part of my point. I mean, lots of producers in lots of industries cry about regulations that increase their markup, an increase they pass to the consumer. They cry all the way to the bank about that.