There’s this tacit myth that it’s possible for the lower end homes to get cheaper while, simultaneously, the middle/high end homes continue their regular 6% (or

There’s this tacit myth that it’s possible for the lower end homes to get cheaper while, simultaneously, the middle/high end homes continue their regular 6% (or more) YoY gains (on which owners’ financial health depends). I think this belief gives hope that affordability can improve even without new inventory. In reality, the entire stock (low to high) moves lock/step as if they are chained together. Gaps cannot exist because buyers will eagerly move a little up or down (in quality) based on pricing changes.