{"id":32526,"date":"2022-06-07T03:29:09","date_gmt":"2022-06-07T03:29:09","guid":{"rendered":"https:\/\/cjstudents.com\/?p=32526"},"modified":"2022-06-07T03:29:09","modified_gmt":"2022-06-07T03:29:09","slug":"americas-glaring-54-point-gap-on-financial-well-being","status":"publish","type":"post","link":"https:\/\/cjstudents.com\/index.php\/2022\/06\/07\/americas-glaring-54-point-gap-on-financial-well-being\/","title":{"rendered":"America&#8217;s glaring 54-point gap on financial well-being"},"content":{"rendered":"<p> [ad_1]<\/p>\n<div>\n<p><strong>Listen to most experts, <\/strong>and you\u2019d think the economy is going up in flames. In fact, tens of millions of U.S. households are thriving more than in decades.<\/p>\n<p><strong>Why it matters: <\/strong><a target=\"_blank\" class=\"gtmContentClick\" data-vars-link-text=\"High gas prices\" data-vars-click-url=\"https:\/\/www.axios.com\/2022\/05\/10\/gas-prices-hit-new-all-time-high\" data-vars-content-id=\"59b6a56a-c815-4461-ab8d-c52d34f59b82\" data-vars-headline=\"America's hidden boom\" data-vars-event-category=\"story\" data-vars-sub-category=\"story\" data-vars-item=\"in_content_link\" href=\"https:\/\/www.axios.com\/2022\/05\/10\/gas-prices-hit-new-all-time-high\" rel=\"noopener\">High gas prices<\/a>, stock market volatility and inflation are hiding the reality that the economy is working for a huge swath of Americans \u2014 and has richly bolstered their nest eggs. <\/p>\n<p><strong>Here&#8217;s a rarity <\/strong>\u2014 a parade of encouraging news: <\/p>\n<ol>\n<li><strong>Houses: <\/strong>It&#8217;s hard to find one to buy \u2014 and the <a target=\"_blank\" class=\"gtmContentClick\" data-vars-link-text=\"66% of Americans\" data-vars-click-url=\"https:\/\/www.nar.realtor\/newsroom\/u-s-homeownership-rate-experiences-largest-annual-increase-on-record-though-black-homeownership-remains-lower-than-decade-ago\" data-vars-content-id=\"59b6a56a-c815-4461-ab8d-c52d34f59b82\" data-vars-headline=\"America's hidden boom\" data-vars-event-category=\"story\" data-vars-sub-category=\"story\" data-vars-item=\"in_content_link\" href=\"https:\/\/www.nar.realtor\/newsroom\/u-s-homeownership-rate-experiences-largest-annual-increase-on-record-though-black-homeownership-remains-lower-than-decade-ago\" rel=\"noopener\">66% of Americans<\/a> who do own houses are seeing their home values soar. The middle class has made a whopping $2.1 trillion from homeownership in the past 10 years, <a target=\"_blank\" class=\"gtmContentClick\" data-vars-link-text=\"Fortune reports\" data-vars-click-url=\"https:\/\/fortune.com\/2022\/03\/22\/housing-market-middle-class-homeownership-building-wealth\/\" data-vars-content-id=\"59b6a56a-c815-4461-ab8d-c52d34f59b82\" data-vars-headline=\"America's hidden boom\" data-vars-event-category=\"story\" data-vars-sub-category=\"story\" data-vars-item=\"in_content_link\" href=\"https:\/\/fortune.com\/2022\/03\/22\/housing-market-middle-class-homeownership-building-wealth\/\" rel=\"noopener\">Fortune reports<\/a>.<\/li>\n<li><strong>Retirement accounts: <\/strong>Despite the recent sell-off, they&#8217;ve been <a target=\"_blank\" class=\"gtmContentClick\" data-vars-link-text=\"fattened\" data-vars-click-url=\"https:\/\/news.yahoo.com\/401-k-balances-hit-record-highs-after-retirement-savers-boost-contributions-134921781.html\" data-vars-content-id=\"59b6a56a-c815-4461-ab8d-c52d34f59b82\" data-vars-headline=\"America's hidden boom\" data-vars-event-category=\"story\" data-vars-sub-category=\"story\" data-vars-item=\"in_content_link\" href=\"https:\/\/news.yahoo.com\/401-k-balances-hit-record-highs-after-retirement-savers-boost-contributions-134921781.html\" rel=\"noopener\">fattened<\/a> by the stock market. And the share of people who say they expect to work past their early 60s has dropped below 50% for the <a target=\"_blank\" class=\"gtmContentClick\" data-vars-link-text=\"first time\" data-vars-click-url=\"https:\/\/www.nytimes.com\/2022\/05\/10\/business\/economy-boom-times.html\" data-vars-content-id=\"59b6a56a-c815-4461-ab8d-c52d34f59b82\" data-vars-headline=\"America's hidden boom\" data-vars-event-category=\"story\" data-vars-sub-category=\"story\" data-vars-item=\"in_content_link\" href=\"https:\/\/www.nytimes.com\/2022\/05\/10\/business\/economy-boom-times.html\" rel=\"noopener\">first time<\/a>.<\/li>\n<li><strong>Jobs:<\/strong> 11.4 million are open. The unemployment rate is 3.6% \u2014 back to pre-pandemic lows.<\/li>\n<li><strong>Safety nets<\/strong>: <a target=\"_blank\" class=\"gtmContentClick\" data-vars-link-text=\"68% of Americans\" data-vars-click-url=\"https:\/\/www.federalreserve.gov\/publications\/files\/2021-report-economic-well-being-us-households-202205.pdf\" data-vars-content-id=\"59b6a56a-c815-4461-ab8d-c52d34f59b82\" data-vars-headline=\"America's hidden boom\" data-vars-event-category=\"story\" data-vars-sub-category=\"story\" data-vars-item=\"in_content_link\" href=\"https:\/\/www.federalreserve.gov\/publications\/files\/2021-report-economic-well-being-us-households-202205.pdf\" rel=\"noopener\">68% of Americans<\/a> say they have cash for a rainy day.<\/li>\n<li><strong>Millennial homeownership:<\/strong> It\u2019s at <a target=\"_blank\" class=\"gtmContentClick\" data-vars-link-text=\"43%\" data-vars-click-url=\"https:\/\/www.nar.realtor\/newsroom\/nar-report-shows-share-of-millennial-home-buyers-continues-to-rise\" data-vars-content-id=\"59b6a56a-c815-4461-ab8d-c52d34f59b82\" data-vars-headline=\"America's hidden boom\" data-vars-event-category=\"story\" data-vars-sub-category=\"story\" data-vars-item=\"in_content_link\" href=\"https:\/\/www.nar.realtor\/newsroom\/nar-report-shows-share-of-millennial-home-buyers-continues-to-rise\" rel=\"noopener\">43%<\/a>, up from 37% last year.<\/li>\n<\/ol>\n<p><strong>Reality check: <\/strong>There&#8217;s still plenty of pain in this economy \u2014 likely with much more to come.<\/p>\n<ul>\n<li><strong>The tight housing market <\/strong>is pricing out millions of renters and potential buyers.<\/li>\n<li><strong>Rising prices<\/strong> \u2014 <a target=\"_blank\" class=\"gtmContentClick\" data-vars-link-text=\"at the pump\" data-vars-click-url=\"https:\/\/www.axios.com\/2022\/06\/03\/gas-is-headed-for-5-a-gallon-nationwide\" data-vars-content-id=\"59b6a56a-c815-4461-ab8d-c52d34f59b82\" data-vars-headline=\"America's hidden boom\" data-vars-event-category=\"story\" data-vars-sub-category=\"story\" data-vars-item=\"in_content_link\" href=\"https:\/\/www.axios.com\/2022\/06\/03\/gas-is-headed-for-5-a-gallon-nationwide\" rel=\"noopener\">at the pump<\/a> and in the grocery store \u2014 are draining wallets.<\/li>\n<\/ul>\n<p><strong>That helps explain <\/strong>one of the bigger polling conundrums we&#8217;ve seen:<\/p>\n<ul>\n<li><strong>We think things<\/strong> are going fine for us, but terribly for America. 78% of Americans are confident in their personal financial well-being, but just 24% are confident in the U.S.&#8217; financial well-being, per Federal Reserve data <a target=\"_blank\" class=\"gtmContentClick\" data-vars-link-text=\"reported by the Atlantic's Derek Thompson\" data-vars-click-url=\"https:\/\/www.theatlantic.com\/newsletters\/archive\/2022\/06\/american-economy-negative-perception-inflation\/661149\/\" data-vars-content-id=\"59b6a56a-c815-4461-ab8d-c52d34f59b82\" data-vars-headline=\"America's hidden boom\" data-vars-event-category=\"story\" data-vars-sub-category=\"story\" data-vars-item=\"in_content_link\" href=\"https:\/\/www.theatlantic.com\/newsletters\/archive\/2022\/06\/american-economy-negative-perception-inflation\/661149\/\" rel=\"noopener\">reported by the Atlantic&#8217;s Derek Thompson<\/a> <em>(see chart above)<\/em>.<\/li>\n<\/ul>\n<p><strong>The bottom line: <\/strong>Things haven\u2019t been so good for so many in decades, Dean Baker of the Center for Economic and Policy Research <a target=\"_blank\" class=\"gtmContentClick\" data-vars-link-text=\"told\" data-vars-click-url=\"https:\/\/www.nytimes.com\/2022\/05\/10\/business\/economy-boom-times.html\" data-vars-content-id=\"59b6a56a-c815-4461-ab8d-c52d34f59b82\" data-vars-headline=\"America's hidden boom\" data-vars-event-category=\"story\" data-vars-sub-category=\"story\" data-vars-item=\"in_content_link\" href=\"https:\/\/www.nytimes.com\/2022\/05\/10\/business\/economy-boom-times.html\" rel=\"noopener\">told<\/a> The New York Times.<\/p>\n<ul>\n<li><strong>&#8220;You&#8217;d have to go back <\/strong>to the late 1990s to find a similar era. Before that, the 1960s.&#8221;<\/li>\n<\/ul>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.axios.com\/2022\/06\/07\/economic-data-america-housing-jobs-inflation\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Listen to most experts, and you\u2019d think the economy is going up in flames&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":32527,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-32526","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research"],"_links":{"self":[{"href":"https:\/\/cjstudents.com\/index.php\/wp-json\/wp\/v2\/posts\/32526","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cjstudents.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cjstudents.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cjstudents.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cjstudents.com\/index.php\/wp-json\/wp\/v2\/comments?post=32526"}],"version-history":[{"count":1,"href":"https:\/\/cjstudents.com\/index.php\/wp-json\/wp\/v2\/posts\/32526\/revisions"}],"predecessor-version":[{"id":32528,"href":"https:\/\/cjstudents.com\/index.php\/wp-json\/wp\/v2\/posts\/32526\/revisions\/32528"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cjstudents.com\/index.php\/wp-json\/wp\/v2\/media\/32527"}],"wp:attachment":[{"href":"https:\/\/cjstudents.com\/index.php\/wp-json\/wp\/v2\/media?parent=32526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cjstudents.com\/index.php\/wp-json\/wp\/v2\/categories?post=32526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cjstudents.com\/index.php\/wp-json\/wp\/v2\/tags?post=32526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}