US middle-class household wealth reached 700% of after-tax income in September 2018, the highest level since 1952, writes the Center for American Progress, senior fellow at Christian Weller. He said that growing numbers of US households held their wealth in stocks, which have experienced high volatility recently, while levels of costly debt, such as student and car loans, reached 102.3% of after-tax income by September this year. Weller said the risks of people incurring financial losses were growing, and called on politicians to do more to protect people from making "costly mistakes".
US middle-class household wealth reached 700% of after-tax income in September 2018, the highest level since 1952, writes Christian Weller, senior fellow at the Center for American Progress. He said that growing numbers of US households held their wealth in stocks, which have experienced high volatility recently, while levels of costly debt, such as student and car loans, reached 102.3% of after-tax income by September this year. Weller said the risks of people incurring financial losses were growing, and called on politicians to do more to protect people from making "costly mistakes".