Two housing markets: rich and everyone else

Two housing markets: rich and everyone else

In America, it’s starting to feel as if there are two housing markets. One for the rich and one for everyone else.

Prices of $1 million-plus properties have risen 0.7 percent since February, according to Zillow. Prices of houses under $1 million have fallen more than 1.5 percent. Normally, these two segments of the housing market rise and fall together. But now, they’re moving in opposite directions.

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