As seen in the above-referenced CalculatedRisk post:
The net worth of households and nonprofits fell to $110.8 trillion during the first quarter of 2020. The value of directly and indirectly held corporate equities decreased $7.8 trillion and the value of real estate increased $0.4 trillion.
As I have written in previous posts concerning this Household Net Worth (as a percent of GDP) topic:
As one can see, the first outsized peak was in 2000, and attained after the stock market bull market / stock market bubbles and economic strength. The second outsized peak was in 2007, right near the peak of the housing bubble as well as near the stock market peak.
I could extensively write about various interpretations that can be made from this chart. One way this chart can be interpreted is a gauge of “what’s in it for me?” as far as the aggregated wealth citizens are gleaning from economic activity, as measured compared to GDP.
The Special Note summarizes my overall thoughts about our economic situation