[dongobread]

Clickbait unfortunately, this is median not mean. If you check the source data[1], 1m net worth is at roughly 90th percentile of US households.

Also interesting in the original survey - for the median household, over >80% of their wealth is in their house (and 2/3s of households have houses). Whereas stocks are mostly the domain of the wealthy.

[1] https://www.federalreserve.gov/publications/files/scf23.pdf

[PopAlongKid]

>this is median not mean. If you check the source data[1], 1m net worth is at roughly 90th percentile

I think you stated it backwards. Median is 50th percentile.

[hughesjj]

"mean not median" is what I believe gp meant to say

[Kon-Peki]

Nice data set.

> Debt secured by residential property was about unchanged between 2019 and 2022. About 42 percent of families in both 2019 and 2022 had debt secured by their primary residence, and the median amount of this debt decreased by less than 1 percent to $155,600 in 2022.

Man, everything is skewed by all the old folks that bought their houses decades ago.

[fnordpiglet]

Not arguing the truth of that statement but I don’t see the connection between the quote and it.

[adamredwoods]

A 10x difference between net worth MEAN and MEDIAN is incredible. Then separated by race, we see the staggering effects of past inequality.

[mattkrause]

It's the first third of the article too.

They give the median as $192k, which is higher than I would have guessed (but probably mostly house?)

[dudul]

How can it be the median if it's the 90th percentile?

[junon]

I think they got the two backwards.