A booming stock market and a recovering property market has been great for Americans exposed to those parts of the economy.
Unfortunately, only around half of US adults are exposed to the stock market. And at 64.4%, homeownship rates in the US are at a 19-year low. For these other Americans, expenditures are largely covered by their wages, which haven’t really been going anywhere.
“For the average worker in the United States real median family income has not increased since 2008,” Blackstone’s Byron Wien said. “Household net worth is at an all time high but this is because of the rise in the stock market and expensive real estate.”
Business Insider recently asked Wien for what he considered to be the “Most Important Chart In The World.” He responded with this depressing chart of stagnant incomes.
“For most Americans drawing a paycheck every two weeks life is a struggle,” he said. “This is the heart of the inequality problem and it’s going to get worse.”