Is any of that “net worth” in home values the result of mortgage bailouts? IOW, how much of this increase in the average household “net worth” is just the result of nationalizing a lot of bad mortgage debt? What do the numbers look like if you subtract the average households share of the national debt from that?
The mortgage thing is not that big, say less than $2T out of the total $83T, but the national debt's interesting. OK, so most of it's owed to private Americans so we can't count that, but take away the nat. debt held by foreigners and the fed reserve it lowers private net worth to $73T.