This is the Households and Nonprofit net worth as a percent of GDP.
This includes real estate and financial assets (stocks, bonds, pension reserves, deposits, etc) net of liabilities (mostly mortgages). Note that this does NOT include public debt obligations.
Note that this ratio was relatively stable for almost 50 years,
and then ... bubbles!
![[SM=g1780131]](https://im1.freeforumzone.it/up/17/31/242097816.gif)