money well spent...on money

why are there constantly developing luxury high-rises [that no one normal can afford] and storage spaces from abandoned warehouses and lots [for stuff that people don't need and keep hidden until they die and a family member has to come and throw everything out so they don't have to keep paying the rent on *junk*], when there are still people in need of homes? so basically, nyc is a place that houses the rich and the inanimate.