By Allison Schrager – Starting around 2001, American families put an increasing amount of their wealth in housing and took on more debt. This came at the expense of other kinds of investments, such as nonhousing wealth, which hasn’t returned to its 2001 peak.
As a result, real estate became a far bigger part of household wealth: Its value increased, and people bought more of it. The disproportionate investment is a big reason median wealth fell almost 40 percent when the housing bubble burst, and also a big reason we still haven’t fully recovered. more> http://tinyurl.com/pmdcp9x