That seems a non-sequitur. In a free market, the price isn't driven by what the owner 'wants'. Throwing 'wealthy elite' in there seems like snobbery. That sentence doesn't mean anything.
A more interesting observation is, as population grows yet city infrastructure stagnates, housing prices go up. Something like that, that has actual logic behind it.
A more interesting observation is, as population grows yet city infrastructure stagnates, housing prices go up. Something like that, that has actual logic behind it.