I don't believe the "typical household" as $450,000 in equity in their homes. NO WAY. This is BS.
It doesn't say the equity is $450K. It says the net worth of the household -- which includes equity in your home, savings, 401k, pension value, etc.
Feel better now ?
A good rule of thumb for net worth is to dive the household's income by 10 and multiply by the average age of you and your spouse. If your net worth is above that, then you might be able to avoid a diet of dogfood in retirement.