I don't think this is universally true. The bottom of the market is hefty in real estate, as you say. But, it's not the whole market. In fact, the range of qual

I don't think this is universally true. The bottom of the market is hefty in real estate, as you say. But, it's not the whole market. In fact, the range of quality/price in all home fixture is pretty wide. There definitely is a market for high end everything, including Aircon, water heating and other "similar" categories. It's like saying that some high end monitor failed because everyone gets the cheapest monitor. Yet, Apple still sell some monitors @ 5X the price of the bottom end. A lot of markets are like this. The bottom takes 50-75% of the market share with the rest ranging widely. TVs, doorknobs, office chairs, socks, nipple tassels...