The richest 10% of households now represent 70% of all U.S. wealth

Deutsche Bank’s Torsten Sløk says that the distribution of household wealth in America has become even more disproportionate over the past decade, with the richest 10% of U.S. households representing 70% of all U.S. wealth in 2018, compared with 60% in 1989, according to a recent study by researchers at the Federal Reserve. To make a finer point, Fed researchers say the increase in wealth among the top 10% is largely a result of that cohort obtaining a larger concentration of assets: “The share of assets held by the top 10% of the wealth distribution rose from 55% to 64% since 1989, with asset shares increasing the most for the top 1% of households. Here’s a graphic from the Census Bureau showing the homeownership average since 1998:

“So in some sense the source of higher inequality is Fed policies, which pushed stock prices and home prices higher.

Source: www.marketwatch.com