Go to:

July 2018
< Jun Aug >
Leaguer Email Subscription

You are not currently subscribed. Click Subscribe below to receive the Leaguer email.

Household Wealth Higher
Tuesday, June 11, 2013 5:15 AM

A robust stock market and stronger housing indicators are helping more Americans regain the household wealth that they lost during the Great Recession.

Federal Reserve reports that the net worth of American households is now higher than before the recession that occurred about five and a half years ago, without adjusting for inflation. Household net worth climbed 4.5 percent in the first quarter of 2013, reaching $70.3 trillion, compared to $68.1 trillion in 2007.

For the first quarter of 2013, real estate holdings accounted for a $784 billion increase in household net worth, according to the Fed. Corporate shares and mutual funds accounted for a nearly $1.5 trillion gain in that time.

A recent poll conducted by the New York Times and CBS News shows that more Americans are feeling upbeat about the direction of the economy, saying the economy was “very” or “fairly good.” That's the highest share since the recession began in 2007. However, some indicators continue to lag.

(Source: The New York Times, 7 June 2013)