I'm just throwing numbers around based on my experience. In the USA, I got a full kitchen remodel done for 25k in a modest, clean, homey kitchen in a $750k home. Then I visit some high-end residences, and their kitchens look like Gordon Ramsay shows up every night to cook a private dinner. It's a stark contrast.

I was once debating between granite countertops that ranged from 5k to 10k—like it was a make-or-break decision for my budget—only to walk into a home where the owners start rambling on about how much of a pain it was to get custom wood countertops imported from Brazil, sourcing the same industrial kitchen range that michelin star cook cooks use, industrial fridge/freezer setups, marble floor tiling, and every single top-of-the-line thing in a kitchen you can possibly think of.

Considering I spent 25k on a modest kitchen with brand new top of the line Samsung appliances in a fairly large house in a "high-income" area, I’d say these folks are spending 4-5 times what I did. And honestly, my guess might be an underestimate. The elites and upper-middle class have DEEP pockets.

A 25k ‘full’ kitchen remodel in 750k house in a HCOL area is a VERY good deal. How hands off were you in the process?

People underappreciate how much luxury pricing diverges.

When you have a customer base with 1000x average income, you will rapidly find there's a 1000x priced option... even if it's only 2% better than something priced 10x average (or often, simply labelled differently).

It's deep pockets often from house price inflation due to demand increases from immigration and price increases from the rise of two-income households. The latter won't continue to happen, although the former will.