Fed: American Households Increased Net Worth During Pandemic

American Greatness ^ | 10.20.23 | Eric Lendrum

[Chickensoup]

A new report from the Federal Reserve claims that the average American household actually saw an increase in its net worth during the Chinese pandemic ... In 2019, the median U.S. household had a net worth of $141,100, adjusted for inflation. In 2022, that number rose to $193,000. At the same time, various measures of “financial fragility” declined over the same period, with the median debt payments as a share of income falling to 13.4%, the lowest rate in the 33 years since the survey was first started.

“It’s especially striking given the massive job loss we saw when the pandemic set in,” said Karen Dynan, a Harvard economist. “I think if you had asked me at the time what household finances would look like two years later, I would have been very pessimistic.”

...

[Chickensoup]

A new report from the Federal Reserve claims that the average American household actually saw an increase in its net worth during the Chinese pandemic ... In 2019, the median U.S. household had a net worth of $141,100, adjusted for inflation. In 2022, that number rose to $193,000. At the same time, various measures of “financial fragility” declined over the same period, with the median debt payments as a share of income falling to 13.4%, the lowest rate in the 33 years since the survey was first started.

“It’s especially striking given the massive job loss we saw when the pandemic set in,” said Karen Dynan, a Harvard economist. “I think if you had asked me at the time what household finances would look like two years later, I would have been very pessimistic.”

...

[Chickensoup]

This was excerpted

[Red Badger]

This was expected, too..............

[Jamestown1630]

Free money from the govt. will do that, if you’re smart about it.

[Navy Patriot]

Fed: American Oligarch Households Increased Net Worth During Pandemic

As Planned.

[Revel]

Pull the other one.

[glorgau]

Mine went up substantially. Paid off car, zeroed out all other debts, maxed the 401k while some stocks went up nicely. Once the ball starts rolling in the other direction with nothing to slow it down it moves quick.

[babble-on]

Interest rates fell very low, massive fiscal stimulus was issued in direct payment form, and thanks to both of those things, the stock market recovered sharply and housing prices spiked.

[Chickensoup]

Reasons?

As worldwide real estate prices increased in many markets net worth foe those holding real estate has increased albeit temporarily.

As the value of the dollar Co tines to plummet the numbers continues to rise.

The government is lying. Hard to justify its spending f. By pretending you be efited

[Chickensoup]

Wei

[SaxxonWoods]

Good work, we did very well also. Sold rentals, waiting for real estate to drop so we can buy some nice land with water rights. “You got to know when to hold ‘em, know when to fold them.”

[Blood of Tyrants]

How about that Bidenomics is working. /sarc

[ridesthemiles]

PLEASE EXPLAIN THE METHOD USED TO ARRIVE AT THIS CONCLUSION

[Does so]

Less money spent on commuting...

[ridesthemiles]

I DOUBT THAT YOU ARE IN THE MAJORITY

[no-to-illegals]

The price / cost of a home doubled but if you sell the house won't one probably purchase another house. Therefore there is no net gain ….. property taxes went up substantially as did rent, groceries and gasoline. Americans took it up the yen yang. Inflation ate us up and spit us out

[antidemoncrat]

So a news report yesterday claimed house holds earning $100,000 a year were living paycheck to paycheck. What to believe What to believe

[SaxxonWoods]

Bidenomics works great if you know how to take advantage, so did Obamanomics when I retired in disgust as he was elected and then doubled my net worth during his terms. Even perverted Capitalism works if you know how to take advantage.

Unfortunately, financial ignorance is rampant in America.

[Jamestown1630]

That’s definitely true. Also less on eating lunch out, which I did often.

[SaxxonWoods]

You can live paycheck to paycheck at any pay level and many people do.