Stocks dethrone real estate as America’s top wealth engine
Private real estate and infrastructure allocations, by contrast, held at just 11%.
Equity allocations among American households are now approaching 50% of financial assets, a level that surpasses the peaks recorded during the dot-com era.
Real estate’s role at the middle
None of this erases homeownership from the American wealth equation. For middle-income households, real estate remains the single most consequential asset most families will ever own.
Lawrence Yun, chief economist at the National Association of Realtors (NAR), said in June 2026 that “homeowners will continue to build wealth, while renters are simply spinning their wheels,” projecting the typical homeowner will gain approximately $16,000 in wealth this year.
But the balance is shifting, particularly at the upper end of the market where brokers are competing hardest.
