It's super not.

Look, if you got a starter house let's say 5 years ago for let's say $800k, and now that house is worth $1.1M, but what you want to do is move into a 3/2 or something that used to cost $1.1M, that same better house now costs $1.5. Instead of having to add $300k equity, you have to add $400k. But actually, what's happened is that houses in like the 6th to 8th decile have appreciated more than houses in the 1st to 4th decile, so you probably have to add $500k.

The only people this is good for are people who own a separate property purely as an investment, and people who are moving out of the area or downsizing their houses.