AI is quietly splitting the housing market in two: Bay Area luxury homes are up 13%, affordable ones are collapsing

As AI mints new millionaires, billionaires, and even trillionaires, it’s also threatening to replace entry-level workers and sparking fearful chatter of the “permanent underclass.” There’s no place that’s more evident than in the Bay Area, at the heart of Silicon Valley, where technology is wedging a deeper divide in the K-shaped economy, especially in the housing market. 

A new Redfin report found that since the launch of ChatGPT’s first model in Nov. 2022, luxury home prices in the...