Many Americans Still Feel the Sting of Lost Wealth

The housing crash hurt the poor and middle class more than the rich, who rode the bull stock market.

Bloomberg Opinion
Aug 8, 2018 · 5 min read
Photo: David McNew/Getty Images

By Noah Smith

The financial crisis and the Great Recession were absolutely devastating for the wealth of middle- and lower-income Americans. A report from the Federal Reserve Bank of…

You’ll also discover more fresh thinking personalized to your interests and can follow your favorite authors, publications, and topics.
Or, continue in mobile web
Already have an account? Sign in

Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore

If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. It’s easy and free to post your thinking on any topic. Write on Medium

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store