Economy News

 

U.S. Household Wealth Up $10 Trillion

U.S. Household Wealth Up $10 Trillion

(Undated)  --  Recovering home values and a skyrocketing stock market are pushing household wealth in the U.S. back to where it was before the recession. 

The Federal Reserve reported Thursday the net worth of households and nonprofits hit $80.7 trillion dollars at the end of last year. 

That's a gain of nearly ten-trillion dollars over 2012.  The Fed says last year Americans finally regained the $10.6 trillion dollars lost in the recession when both stocks and real estate prices collapsed. 

Household wealth, or net worth, is the value of homes, stocks, bank accounts, and other assets, minus mortgages, credit cards, and other debts.

 

More Articles