Posted on 03/10/2005 10:29:08 AM PST by West Coast Conservative
Rising real estate prices and a resurgent U.S. stock market pushed the net wealth of American households to a record high in the fourth quarter of 2004, the Federal Reserve said Thursday.
In its quarterly "Flow of Funds" report, the central bank said household balance sheet values rose to $48.53 trillion in the fourth quarter, up from $46.59 trillion in the third quarter.
The third quarter net worth was originally reported at $46.68 trillion, which had also been a record. The data is not seasonally adjusted.
Higher values for real estate, equities and mutual funds led the net wealth gains in the fourth quarter, the Fed said. Pension fund reserves also posted a healthy increase.
(Excerpt) Read more at cnn.netscape.cnn.com ...
Let me know the next time you're down this way-- the icecream is especially good with the fresh locally grown coffee.
I'll do that. Thanks for the offer.
bttt
(you're a morning person too I take it.)
Household wealth is separate from government assets. I'll bet the gov could sell a few things to pay some of that obligation.
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