"every level of American to be meaningfully wealthier" - I don't get this statement. I know a few people who own homes / property and they could perhaps qualify

"every level of American to be meaningfully wealthier" - I don't get this statement. I know a few people who own homes / property and they could perhaps qualify for this statement - but that gets into the weeds of they don't have that money in hand - sure they could sell, but they can't rebuy in the same city. Yeah second mortgages and of course when they die the property could convert to cash.. but they don't get to live much wealthier in general.. Most people I know that do not own property are doing much worse today than they were 10 years ago, and 15 years ago - everything is more expensive, and they do not earn much more.. they would be better off going back 15 years with what they earned then and pricing for housing / food / cars being what it was. I'm wondering in what parts of the country that this is inverse.