Households in the bottom third have been truly devastated.
We have been trying to figure out what happened to households’ financial well-being between 2007 and 2019.
Read: What’s the best way to take RMDs from your retirement accounts? Experts rate the top 3 strategies. Let me say something first about the relative stability of these wealth-to-income ratios over time, because five major developments should have led to higher ratios of wealth to income. But, I digress. Our issue is what happened between 2007 and 2019. The short story is that wealth-to-income ratios in 2019 are now in the middle of the pack, and have not returned to the boom levels of 2007 even though the housing and equity markets have reached new peaks. Is the problem that wealth has not been growing or that income has been growing “too fast”?
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