Million Dollar Home Sales Jump in U.S. as Wealthy Return

Real estate has returned as a favorite topic of conversation at the pair of Starbucks Corp. coffee shops in Granite Bay, a Sacramento, California, suburb where the median income is double the rest of the state.

“When the real estate market was booming, people sat in Starbucks and talked about how much they paid for a house,” said Craig Moe, who in June bought a $1.2 million property discounted 25 percent from its sale six years ago. “Now, they talk about how little they paid and what a bargain they got.”