US Household Wealth Reaches New High

[finehoe]

US household wealth reaches new high of nearly $85 trillion

A rising stock market and climbing home prices boosted Americans' net worth to a new high in the first three months of the year.

The Federal Reserve said Thursday that the value of Americans' stock holdings, real estate and other assets rose to $84.9 trillion from $83.3 trillion in the final three months of last year. Stock portfolios rose $487 billion, home values by $503 billion.

Still, households remained cautious about borrowing. Total household debt, which includes mortgages, credit cards, auto loans and other borrowing, rose 2.2 percent, the slowest pace since the end of 2013.

The Fed's figures aren't adjusted for population growth or inflation. Household wealth, or net worth, reflects the value of homes, stocks and other assets minus mortgages, credit cards and other debts.

Household net worth has steadily recovered after the Great Recession wiped out nearly $13 trillion in wealth. Total net worth has since surpassed the pre-recession peak of almost $68 trillion.

http://news.yahoo.com/us-household-wealth-reaches-high-nearly-85-trillion-163610637--finance.html

[mbwright]

While 'Wealth' might be increasing, overall net worth among those not at the top is not great.  Just because wall street investors are fine, and getting rich, many are still pay check to pay check, or have stagnant wages, with increasing cost.  Recovery is not the same for all.

[MusicMan]

Odd that this thread isn't paired with the one regarding highest poverty rates ever................................


It's the USA.  Unimaginable wealth at the very top (5%), a mass in the middle with a big screen tv and 2 cars (70%),and poverty at the bottom (24%).