Exactly -- all new housing is going to be marketed as "luxury".
Who is going to build a brand-new apartment and say "well, this is janky low-quality housing, you might want to live here if you're poor or something"?
I go outside and look at my neighborhood of bungalows largely built immediately after the war, they were not sold as luxury. They were sold as affordable housing.
Who is going to build a brand-new apartment and say "well, this is janky low-quality housing, you might want to live here if you're poor or something"?