If you paid attention to proponents of a wealth tax in the US, you would be aware that they only ever suggest it for vast wealths of like $10 million+.
The Bay Area is one of the most expensive parts of the United States and $10M still means you own half a dozen houses. I’d say that’s reasonably “wealthy” from the perspective of the majority of the population who struggle to afford even one.
Anyone who owns two $500k houses is wealthy in 2026. I used to own two worth less than that and didn’t consider myself wealthy, but I was by the statistics.