A lot of money was printed / added to the system. It’s still working its way though. The stock market valuation is also subject to inflation. It might be “doing

A lot of money was printed / added to the system. It’s still working its way though. The stock market valuation is also subject to inflation. It might be “doing good” but in real terms compared to the money supply it might be just catching up. Real estate however is dropping very much in real terms. Wages going up you have to compare to inflation and the money supply. Just because a dollar is worth less than it was 5 years ago, can take your wage “gain” away pretty fast.