Skip to comments.U.S. household wealth above $80 trillion (record); boosted by stocks, housing
Posted on 03/06/2014 3:52:47 PM PST by Red in Blue PA
WASHINGTON (Reuters) - U.S. household net worth jumped to a new high at the end of last year, as the value of real estate and shareholdings rose and bank accounts swelled.
The Federal Reserve said on Thursday net worth increased $2.95 trillion to $80.66 trillion in the fourth quarter, eclipsing a previous record high.
The value of households' property, consumer goods, bank deposits and stocks all increased in the quarter.
(Excerpt) Read more at finance.yahoo.com ...
This is definitely a 2 track economy. A few are doing extremely well while the vast majority are suffering.
Pre-boomers and boomers, holding onto their savings and assets.
At least that amount in gov’t debt. The US is broke.
A little more than the Fed printed and the Government borrowed.
Better than I’d expect.
2008 showed us that stock holdings and housing holdings could be halved in no time flat.
So a record number such as $80T could easily be $40T in a few weeks given the proper circumstances.
The stock market wealth is an illusion. VASTLY overinflated value.
Paper wealth in stock and real estate thats been inflated by massive money printing
The number is meaningless, what it can aquire is what counts.
I wish I had seen that, considering the value of my property took another dive in value........
this is reportedly this first Obie had heard of this..and rumor has it that hes planning to use his Pen and Phone to confiscate the vast majority of same.
It’s actually “Household AND non profit organizations”. Don’t know what difference that makes, probably a lot.
That number seemed awfully high; it it includes NFP’s then that would explain alot.
Congratulations America! You are really rich! on paper that is......
Allllllllriggggghhhhhh!! Wooo Hoooo!!!!!!
LOL!What a joke!Everyone has been slammed and Reuters is doing dirty deeds for someone.
I agree. It definitely seems the rich are getting richer and the poor are getting poorer. And the middle class is disappearing.
I don’t understand where people are getting the money to go to Beyonce concerts and football games. I can’t even afford to go to a college game.
it’s amazing how many inches you can squeeze into a foot when you shrink the inch
IOW, the dollar is shrinking driving everything measured in dollars up.
this is not due to a strong economy but an accounting trick. it would be due to a strong economy if gold were down and the value of things were up
your DU is showing
Don’t tell o. He’ll borrow against it. Oh wait, the left has already done that. Unfunded liabilities $128 billion.