Topix Underground

This....


"Demand for high-end homes has been booming, with sales at the $1 million-plus price point growing faster than any other part of the market. At the same time, sales at the lower end of the market — sub-$250,000 homes typically targeted by first-time homebuyers — have dropped in the past year.

The divergence is another example of the K-shaped economy, in which high-income households are thriving and spending while lower- and middle-income households are pulling back as the cost of living rises. In the long run, such shifts can exacerbate the wealth gap as longtime homeowners reap home equity gains while first-time buyers struggle to enter the market at all."




The Dow isn't the entire economy. For 90% of Americans the economy sucks.