Household Net Worth is Down, except for Top 10%

Despite all-time highs in stock and home prices, household net worth is down — except for the Top 10%

Source: Deutsche Bank Research

 

If you want a better understanding of the current age of Pseudo-Popularism and all of its discontents, you could do much worse than this simple chart above.

From Torsten Sløk:

One important reason why the expansion since 2009 has been so weak is that wealth gains have been unevenly distributed, see chart below. A decline in the homeownership rate and the number of households holding stocks has dampened consumer spending growth for the bottom 90% of households.

 

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