[endori97]

>>curious why this is so.

I think because real estate investors have enough capital to take over cool areas.

A stark counterexample is Japan where you can own a freestanding house in a dense urban environment near public transit for $300k -- what would that cost you in London, NYC, Berlin? It seems like Japan is one of the few major cities where you could have a large family (or large studio) and live an urban life -- everywhere else you are stuck with a 2BR or 3BR apt (if your rich).

How an Average Family in Tokyo Can Buy a New Home https://www.youtube.com/watch?v=iGbC5j4pG9w