The four-year bull market in stocks is riding high because of the AI boom. But it’s also increasing the cost of money. U.S. household wealth is becoming more heavily concentrated in stocks than real estate.
That could be dangerous. /iStockphoto Owning a home used to be considered a clear path to building generational wealth in America. That path no longer looks as clear-cut, given the entrenched U.S. housing-affordability crisis, mortgage rates climbing above 7% in September and the S&P 500 index SPX set for a fourth year in a row of double-digit gains. Copyright ©2026 MarketWatch, Inc.
All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Joy Wiltermuth is assistant managing editor, markets. She is based in New York. Intraday Data provided by FACTSET and subject to terms of use.
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