“$1 million starter home? It’s the norm in 237 cities”

“The number of cities with ‘million-dollar’ starter homes has nearly tripled since 2019

• The number of cities where a starter home is worth $1 million or more has grown from 84 five years ago to 237 today.
• Nearly half of these cities with “million-dollar” starter homes are in California.
• The typical starter home nationwide is worth less than $200,000.

SEATTLE, July 25, 2024 /PRNewswire/ — A million-dollar price tag no longer means lavish and luxurious living. In more than 200 U.S. cities, buyers will find a price tag of $1 million or more on the typical starter home, a new Zillow® analysis finds…”

https://finance.yahoo.com/news/1-million-starter-home-norm-120300606.html

Long story short housing is becoming unaffordable. The gap between the rich and the poor is increasing.