New Delhi, Aug. 27 -- For the first time since the Second World War, Americans hold more of their financial wealth in shares than in property, according to Goldman Sachs's reading of the shift in July 2026.

The balance sheet says the same thing more plainly. American households ended March 2026 holding $64.8 trillion in company shares, counting both what they own directly and what sits inside their funds and pension accounts, against $48.7 trillion for the market value of the homes they own. The house is no longer the largest thing Americans own.

Americans still want houses. Asked in April 2025 which investment performs best over the long run, more named real estate than anything else, 37% against 16% for shares, as they have every year...