Some of the people who've fallen out of the middle class fell up. Is that what you are getting at?
But most middle class people from Reagan to now have gone from solid middle class to lower middle class.
And boomers throw everything off. Too many of them. They are all millionaires now. now that $1 mill isn't what it used to be.
All you need to know is this
Household wealth swelled at a record pace during the pandemic. From 2019 to 2022, the median net worth of American families jumped 37% to $192,900, after adjusting for inflation. It’s the largest increase ever recorded by the federal Survey of Consumer Finances, released last fall. Surging home values and rising stock ownership fed the surge.
If you’re a 50-something and you’re not worth a cool $1 million, do not despair. Those numbers are averages, and the super-rich drive them waaaay up.
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The “median” American household – picture the middle number in a long list of numbers – achieves a net worth of about $300,000 in the 50-to-59 age range, a far cry from $1 million.
So including our homes, most of us have $300,000. If your home is worth $200K, you only have $100K in savings. That's the real middle.
