A rising stock market and increases
in home prices are giving a big boost to household wealth, helping
Americans to regain nearly all the wealth they had lost during the
recession, the Federal Reserve reports.
Household wealth nationwide increased 2.6 percent from July through
September to reach a record-breaking $77.3 trillion. Since bottoming out
in 2008, household wealth has been steadily rising.
Household wealth reflects the value of homes, stocks, bank accounts,
and other assets, minus mortgages and other debts, according to The
Associated Press.
Rising stock prices alone helped Americans’ net worth grow by $917
billion from July through September. What’s more, rising home values
added $428 billion.
With the stock market and home prices still rising, many economists
believe that this could roll into stronger economic growth for next
year, too.
Source: “U.S. household wealth reaches record high,” The Associated Press (Dec. 9, 2013) and “Americans Continue to Regain Lost Wealth,” The Wall Street Journal (Dec. 9, 2013)