AI-Driven Luxury Boom, K-Shaped Divergence, and Extreme Ownership Unaffordability

Cash-rich technology and AI buyers continue supporting San Francisco luxury housing while 7.40% mortgage rates and prices constrain financed buyers. Recent coverage emphasizes that prices remain the primary barrier, with possible renewed ARM use and isolated bidding wars such as a reported Outer Sunset sale drawing 10 offers; neither signal establishes a regional rebound.