Wealth Gap Widens: Ultra-Rich Speed Ahead

0:00It's March 30th. You're listening to Durham News today, AI Power Local News. I'm Corey with the story. The economy's splitting into two tracks, with the older wealthy speeding ahead while most folks feel stuck. Top 0.1% households hold massive gains from stocks and private businesses 72% of their wealth. The S&P 500 has tripled in the last decade, funneling riches straight to them. Meanwhile, these fortunes ain't just from tech or Wall Street. Economists like Owen Zydar show business ownership now drives 34.9% of top 1% income up from 30.3% in 2014. Media and household net worth sits at $192,700, but crossing into the top 1% needs 13.6 million. For everyday people, it's a different story. Bottom 50% own just 2.5% of total wealth. Official inflation's at 2.4%, but homes jumped 52% since 2020. Groceries of 25%.

1:05Housing, childcare over $15,000 a year, and health premiums nearing 27,000 for families hit middle-class budgets. Reactions highlight the divide folks earning 250,000 still feel middle-class, yet that's top 10%. Consumer sentiment plunged 29% into 2026, with half-saying stress is worse. Spinning gaps show it, vacation's top $2,000 easy, youth sports thousands per season. This two-tier setup keeps widening as stocks and homes climb. Total US net worth hitting 175.3 trillion, but piled at. The top, unless big changes hit taxes or policy, the squeeze on regular wallets ain't easing anytime soon.