While you may see your Sabre 34 as a boat for 'folks'(like us-but what about immigrants on the Med?), it's a true 'yacht' in EU waters. We're considered(brace yourself:) ), 'Yachtsmen' over there. Not derogatory(like 'yachty' here), but a term that is synonymous with 'accomplished sailor' in the US.
I'm not sure where the American term 'yacht' and 'yachting' took it's turn upward as a class thing in the US. My guess is it was from very early times when sailing for commerce and sustenance, which also included racing(fishing schooners would invariably race back to port-right?), caught the eye of a few rich men. Why didn't the same class stigma happen in the EU?
'Yacht' is not what I sail, either. But what do you have against houses? You have one just off the water?