They can only do that as long as there is market demand. And there would be an increased demand in regular housing if you tore those down. Eventually (or immedi

They can only do that as long as there is market demand. And there would be an increased demand in regular housing if you tore those down. Eventually (or immediately) the demand for regular homes would exceed the demand for luxury homes. Then it becomes a greater risk to build luxury homes vs. regular ones. So the developers choose the lower risk option..