USA Today says: "Surging stock prices and steady home-price increases have finally allowed Americans to regain the $16 trillion in wealth they lost to the Great Recession ... [but] ... The regained wealth - most of it from higher stock prices - has been flowing to richer Americans."
That sure sounds like some Americans are more American than other Americans.
Both CBS Nightly News and PBS News Hour, while reporting the recovery, failed to mention which group has directly benefited the most (at least so far). I couldn't find any online American news sources that seemed to cover this point. (They may be there but I didn't find any on my google search of "household wealth recovers").
I had to go to the New Zealand Herald to get this detail:
The rebound in wealth has benefited mostly wealthier Americans. The Dow Jones industrial average has just set a record high, and roughly 80 per cent of stocks are held by the richest 10 per cent of households.
And for the past five years, middle-class Americans have sold stocks and missed out on much of the rebound. In the October-December quarter, Americans dumped nearly $466 billion in stocks and bought $229 billion in bonds, the Fed's report showed.
For most middle-class Americans, home equity is their largest source of wealth. National home values remain about 30 per cent below their peak.