Some buyers are opting to purchase a second home before or instead of a primary residence, a trend observed in various luxury housing markets. This phenomenon is being seen in locations such as New York, Cape Cod, and Santa Fe, New Mexico, with some areas experiencing a boom in their luxury housing markets. The reasons behind and implications of this trend are not entirely clear, with some reports suggesting it may be contributing to affordability issues for certain groups, such as young people in areas like St Ives.