Regardless, even calling them lower cost houses still supports the thesis: more data on the K shaped economy.
Joking aside, the amount of people who have absolutely no understanding of how bad the housing market to income ratio of the average person is so comically stupid it must be deliberate at this point. To share articles like this just belabors that ignorance.
> The divergence is sharpest in San Francisco. Luxury sales across the metro area surged 21.6% year over year in May, while luxury inventory fell sharply and fewer listings cut their price. Starter-home buyers are hanging back: sales slipped 1.2% year over year in May, while more than twice as many starter-home sellers cut their price in June (22.2%) to try to entice buyers off the sidelines than did luxury buyers (9.4%).
Yeah, this does seem like it's likely to be an artifact of the rapid rise of house values in San Francisco on account of the extremely limited supply and people who work at AI companies suddenly having a lot of money.