Average American Net Worth Rises, But Gains Unevenly Distributed with Top Earners Far Outpacing Middle Class
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While the average American household net worth rose 23% to over $1 million, wealth gains were unevenly distributed, with top earners seeing much larger increases.
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Home values drove net worth higher, but also made housing less affordable, burdening the middle class.
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Stock market gains accrued mostly to upper income groups, widening inequality.
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High debt levels, lack of savings, and paycheck-to-paycheck living contribute to financial strain for many.
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Wealth and income inequality explain why many Americans feel financially strained despite high average household net worth.