Expensive markets I could see doing a cost/benefit analysis and would consider luxury house hacking like I do.

There is not much new construction of apartment buildings going on around here (the only new construction are in the luxury apartment space - rents of $1500-$2000+/mo) but given the Millennials preference for renting and renting apartments, the constricted supply and increasing demand results in increasing rents.

Everything else is a luxury.

I don't agree..I bought my first luxury car in 2010, a BMW 535i.

Over the years, I've expanded to bigger deals like development sites, apartment buildings, commercial buildings, and luxury homes. 

I've used all the investing strategies over the years except owning major commercial, which I am in the process of implementing now by buildinig a large, senior, (55 and older) luxury apartment building, using a successful model.

My husband and I recently met a couple who were rehabbing a rental and noticed that they were driving a very nice luxurious  SUV, now we learned they have had rentals for 40 years and were ready to begin to sell off some properties.  

So I would be looking for someone bright, experienced, and honest as a PM to work with minimal oversight and overhead as they sell a wealthy man a luxury.

Youtube is a great source to get startedI doing this you will meet many investors and rich people if you sell luxury homes or commercial property.

And as an investor in NYC, he is a salesman (as we all are to some degree in our markets).There is a great article in NY Times that came out earlier this year on the nightmare of owning in those tall luxury condos that are shooting up in the city.