But, developers will build what maximizes profits. They are just answering to wallets. If it was mostly the ultra-wealthy purchasing real estate (as it mostly was pre-WW2), then the developers will build what the ultra-wealthy want to spend their money on.
Post-WW2 saw the rise of the middle class and their ability to purchase homes. Especially with government-backed mortgages (FNMA, Freddie Mac, and etc). Most of the middle class would rather spend less on gorgeous architecture and get more square footage inside their home.
I'm interested in what the economic motivations were behind ornate buildings of old. I'm talking about the craftsmanship involved in intricately decorated buildings in urban cores, such as found in most of Europe and less baroquely in the art-deco buildings in the US. Surely at that time economic factors were at work too, and it is very expensive to have custom brick-work and gargoyles and copper accents, etc. At that time did we have a higher standard of what was passable as a public building? A pride in making something pleasing? Were these features actually not more expensive to create?
But, developers will build what maximizes profits. They are just answering to wallets. If it was mostly the ultra-wealthy purchasing real estate (as it mostly was pre-WW2), then the developers will build what the ultra-wealthy want to spend their money on.
Post-WW2 saw the rise of the middle class and their ability to purchase homes. Especially with government-backed mortgages (FNMA, Freddie Mac, and etc). Most of the middle class would rather spend less on gorgeous architecture and get more square footage inside their home.