It seems these days some people are either willing or blindly complacent, allowing themselves to be abused/lied to/cheated/etc for years, even decades. Often, it takes a long time for them to acknowledge its happening. This never lasts forever. Sooner or later, the clouds of poor judgment part, and the light shines on an issue so brightly that even the most easily fooled wake up and push back.

For most, buying a home is a luxury. The luxury goods markets are witnessing this exact phenomenon right now as too many brands pushed prices beyond perceived value, treated loyal shoppers as commodities, or compromised on quality and craftsmanship to boost profits. This has been especially notable amongst "aspirational" buyers who are especially likely to pull back due to post-pandemic price hikes, prompting a shrinking customer base and significant industry changes. These are some of the issues that have gotten us here today:

Shrinking quality and scale fueled by inflationary pressures:  Most luxury clients accept high prices for exclusivity and superior craftsmanship. They are willing to pay more for this but when brands raise prices aggressively without improving or maintaining standards, well beyond rising costs, or diluting the exclusivity of a product, consumers feel alienated. This can damage a brand permanently. Higher prices that deliver less fuel pushback.

The majority of growth in all luxury markets historically comes from upwardly mobile, "aspirational" shoppers or "new money". Often, those who have had money for decades don't need symbols to convey to others their newfound wealth, including homes. Price these entry-level consumers out or focus too heavily on extreme VIPs and you may alienate this entire segment, who are often compelled to make budgetary cuts or redirect spending.

Real luxury requires a high-touch, intimate experience that has to feel special, unique. When you see that cooking range (or a good copy) in every kitchen at every price level, the thrill subsides.  Volume, overexpansion and heavy advertising to the masses often leave the most affluent clients feeling alienated and even abused, overlooked. Over-exposure fatigue can result in a growing desire to seek out niche, less ubiquitous products, hence the emergence of Niche Riche.

Today's extreme wealth polarization and disparity, even within classes, can make some luxury items completely unattainable, thereby removing any form of aspiration and replacing it with resentment. While we love obsessing about "the billionares" they represent a fraction of a fraction of luxury market volume.