This is clownish bullshit:
This distortion is caused by the top 10% having much, much larger houses, skewing the average (and households have gotten smaller).
The reality is this:
Noah Smith and related econs (emphasis on โconโ) cannot admit the above is the common case as that leads to exile from the profession โ because the whole point of modern economics is to exalt power and wealth. As a result, nearly all of the economic stats you see are just pure lies.
(And no, this is not sour grapes. I make well above 4x the median individual income, and that does not include any of my quite numerous and profitable stock market shenanigans. I am doing great. Others, not so much.)

