&gt;I think that this is just a bias that is blinding people to the inherent contradiction. The reason that shithole apartments become so expensive is because there are people with the money to spend who &quot;need&quot; (i.e. work in the area) that apartment. It has nothing to do with construction or maintenance costs, just demand.<p>It is certainly demand but it&#x27;s not demand coming from the people working and living there. It&#x27;s demand coming from millionaire investors buying up high end property as an investment.<p>Google for dark condos.