U.S. household wealth above $80 trillion (record); boosted by stocks, housing

Yahoo Finance ^

[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.

[Red in Blue PA]

This is definitely a 2 track economy. A few are doing extremely well while the vast majority are suffering.

[lurk]

Pre-boomers and boomers, holding onto their savings and assets.

[VRWC For Truth]

At least that amount in gov’t debt. The US is broke.

[mrsmith]

A little more than the Fed printed and the Government borrowed.

Better than I’d expect.

[Red in Blue PA]

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.

[Bryan24]

The stock market wealth is an illusion. VASTLY overinflated value.

[4rcane]

Paper wealth in stock and real estate thats been inflated by massive money printing

[Axenolith]

The number is meaningless, what it can aquire is what counts.

[Gabz]

....as the value of real estate and shareholdings rose and bank accounts swelled.

I wish I had seen that, considering the value of my property took another dive in value........

[MeshugeMikey]

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.

[mrsmith]

Report: http://www.federalreserve.gov/releases/z1/current/z1.pdf

It’s actually “Household AND non profit organizations”. Don’t know what difference that makes, probably a lot.

[Red in Blue PA]

That number seemed awfully high; it it includes NFP’s then that would explain alot.

[SkyPilot]

Congratulations America! You are really rich! _{on paper that is......}

Allllllllriggggghhhhhh!! Wooo Hoooo!!!!!!

Hey......what the???????

[plainshame]

LOL!What a joke!Everyone has been slammed and Reuters is doing dirty deeds for someone.

[VerySadAmerican]

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.

[VRW Conspirator]

Bubble economy.

[sten]

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

[sten]

*psssst*

your DU is showing

[Linda Frances]

Don’t tell o. He’ll borrow against it. Oh wait, the left has already done that. Unfunded liabilities $128 billion.