Welcome box not shown when launching from home directory

Bug Description

The startup welcome box (containing the Claude logo, "Recent activity", and tips) does not appear when launching Claude Code from the home directory (~). It works correctly in other directories.

Steps to Reproduce

1. cd ~ and launch claude — minimal header shown, no welcome box
2. cd into any subdirectory and launch claude — full welcome box appears

Actual Behavior

From home directory (~):

 ▗ ▗   ▖ ▖  Claude Code v2.1.72
           Opus 4.6 · Claude Pro
  ▘▘ ▝▝    ~

From a project folder:

╭─── Claude Code v2.1.72 ────────────────────────────────────────────╮
│                                │ Tips for getting started           │
│          Welcome back!         │ Run /init to create a CLAUDE.md …  │
│                                │ ──────────────────────────────────  │
│             ▗ ▗   ▖ ▖         │ Recent activity                    │
│                                │ No recent activity                 │
│               ▘▘ ▝▝           │                                    │
│                                │                                    │
│   Opus 4.6 · Claude Pro       │                                    │
╰──────────────────────────────────────────────────────────────────────╯

Expected Behavior

The full welcome box should appear regardless of which directory Claude Code is launched from.

Environment

• Claude Code v2.1.72
• macOS (Darwin 25.3.0, Apple Silicon)
• Neither directory has .git or CLAUDE.md