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It's important to stress that the Fed report doesn't represent the experience for the typical household - this is a report about the aggregate. A separate Fed survey from 2016 showed a little more than half of all families owned stocks, while about two-thirds of households owned homes.For the sizable portion of Americans who don't own homes or a substantial amount of stocks, the report only illustrates, yet again, that asset price inflation mostly benefits people who already own a sizable amount of assets. If you're a young person looking to build a portfolio - or a prospective first-time home buyer, you're facing some very high prices right now.

Cody Wilson, a leading proponent of 3-D printed guns, has been arrested in Taiwan after being charged in Texas with sexually assaulting a 16-year old girl there, Taiwanese officials said on Friday.
The police arrested Mr. Wilson in the Wanhua district of Taipei and delivered him to the National Immigration Agency, officials in the city said.
The police in Austin, Tex., said on Wednesday that Mr. Wilson had failed to board a flight back to the United States from Taipei, and that they had asked the United States Marshals Lone Star Fugitive Task Force for help locating him. The marshals will return Mr. Wilson to local Austin authorities after he returns to the United States, the Austin police department said Friday.
He had not been charged when he went to Taiwan, so he is not considered to have fled the country.
Mr. Wilson, 30, is accused of taking a girl he met via the website SugarDaddyMeet.com to a hotel in Austin on Aug. 15, having sex with her and paying her $500 in cash.
Before he left for Taiwan, a friend of the girl told him that he was under investigation for assault, the Austin police have said. Taiwan and the United States do not have an extradition treaty but have agreed to provide mutual legal assistance in criminal matters.
The state-owned Taiwan Central News Agency reported on Friday that a real estate agent who had seen local news stories about the sexual assault charge told police that Mr. Wilson paid a deposit on an apartment on Wednesday. Mr. Wilson was arrested by officers with the Criminal Investigation Bureau at a hotel in Wanhua, according to the report.
Mr. Wilson could be blocked from owning a firearm for life if convicted, legal experts said. He faces a sentence of up to 20 years, Austin officials said on Wednesday.
Comment: Inside the "Poison Papers"