US households who own assets are winning: Equities and mutual funds held by US households equaled 307% of disposable income in Q2 2025, an all-time high. This percentage has increased +43 points since Q4 2019, significantly outpacing gains in disposable income. During the same period, real estate's percentage of disposable income increased +33 points, to 216%. Including pension fund entitlements and other assets, total household assets are up to a record 835% of disposable income. This is +55 percentage points higher than the 780% seen in Q4 2019. Asset owners are winning.