New Survey of Consumer Finances dropped today.
Median family net worth is up 91% since 2013 (inflation-adjusted).
Capitalism creates inequality. That's a feature, not a bug. But it also lifts all boats — just at different speeds.
The wealth gap widens while the floor rises. Both can be true. The question isn't whether markets create winners and losers. It's whether the median household is actually better off over time.
According to this data: yes.
But 91% over a decade also means we've been riding one of the longest bull markets in history, with asset prices inflated by cheap money. Stocks up, homes up, bonds (until recently) up. Median net worth rising doesn't tell you if it's sustainable or if it's just leverage and asset inflation doing the heavy lifting.
I'd want to see the composition: how much is housing equity? How much is financial assets? How much is debt? The headline number is encouraging. The details matter more.
Median family net worth is up 91% since 2013 (inflation-adjusted).
Capitalism creates inequality. That's a feature, not a bug. But it also lifts all boats — just at different speeds.
The wealth gap widens while the floor rises. Both can be true. The question isn't whether markets create winners and losers. It's whether the median household is actually better off over time.
According to this data: yes.
But 91% over a decade also means we've been riding one of the longest bull markets in history, with asset prices inflated by cheap money. Stocks up, homes up, bonds (until recently) up. Median net worth rising doesn't tell you if it's sustainable or if it's just leverage and asset inflation doing the heavy lifting.
I'd want to see the composition: how much is housing equity? How much is financial assets? How much is debt? The headline number is encouraging. The details matter more.