Stock market highs, booming housing, and millions unemployed: A tale of two Americas amid the coronavirus pandemic
More than 2,100 miles west in San Diego, the fortunes are reversed for Maresa Friedman and her husband. Both remain employed and aren’t spending money for travel, work meals, or other everyday perks since the pandemic began.
Welcome to the pandemic economy in America.
As stocks and housing bounce back in big ways, the net worth of many higher earners — whose jobs also remain intact — is booming after initial setbacks in the spring. But for many lower to middle-income Americans, the coronavirus crisis has erased livelihoods, jeopardized housing, and made it harder to achieve financial stability.