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.