Not much disintegration. Home prices skyroccketed, so even rich (not super-rich) people have difficulty on buying, what is a different thing.
There has been some middle class disintegration too, but it is much slower and smaller.
There has been some middle class disintegration too, but it is much slower and smaller.
Either there's a high degree of consolidation on the real estate market, such that the properties are in hands of large conglomerates (maybe foreign). Or the middle class effectively has low buying power, which again asks to reconsider its middle definition.
Clearly there's some serious disbalance at play. Small square footage offerings are not a solution, rather it's another way to further increase a unit-price.
The very small amount that sells is usually brought by rich people making unsound decisions (like betting they'll never have a month without a job on the next 30 years). People have been moving away from those centers and leaving housing there empty.
Most "middle class" owners bought in before prices came up; real-estate, like everything, is priced at the margin