Sentences to ponder

Via Mark Thoma, here is Stephen Gordon:

I was able to check the last time the real, per capita value of US housing equity was at its current level. Even after looking at all of these graphs, the answer astonished me: 1978.

More generally:

US real per capita net worth is back to what it was back in 1999.

We were not as wealthy as we thought we were.


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