“We are as far away from price compression as one can get”

CAR, I just saw a post of years saying that the high-end (over 1M) is trading at 2000-2002 levels. That sounds like price compression to me.

“with the lower half closer to “normal””

I would say it is the opposite in that the high end (over 1M) is closer to normal because there is little government intervention in that market. I guess it depends on what you mean by high end. The low end is what is benefiting from the ultra low interest rates, tax credits, and FHA program. At the high end people tend to bring their own $$$ to the table.