Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Fed: American Households Increased Net Worth During Pandemic
American Greatness ^ | 10.20.23 | Eric Lendrum

Posted on 10/20/2023 1:06:01 PM PDT by 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.”

...


TOPICS: Government
KEYWORDS: household; karendynan
Navigation: use the links below to view more comments.
first 1-2021-4041 next last
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.”

...

1 posted on 10/20/2023 1:06:01 PM PDT by Chickensoup
[ Post Reply | Private Reply | View Replies]

To: Chickensoup

This was excerpted


2 posted on 10/20/2023 1:06:47 PM PDT by Chickensoup (Genocide is here. Leftist extremists are spehe used tarheading the Genocide against conservatives. )
[ Post Reply | Private Reply | To 1 | View Replies]

To: Chickensoup

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


3 posted on 10/20/2023 1:07:50 PM PDT by Red Badger (Homeless veterans camp in the streets while illegal aliens are put up in hotels.....................)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Chickensoup

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


4 posted on 10/20/2023 1:08:00 PM PDT by Jamestown1630 ("A Republic, if you can keep it.")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Chickensoup
Fed: American Oligarch Households Increased Net Worth During Pandemic

As Planned.

5 posted on 10/20/2023 1:08:05 PM PDT by Navy Patriot (Celebrate Decivilization)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Chickensoup

Pull the other one.


6 posted on 10/20/2023 1:08:24 PM PDT by Revel
[ Post Reply | Private Reply | To 1 | View Replies]

To: Chickensoup

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.


7 posted on 10/20/2023 1:09:28 PM PDT by glorgau
[ Post Reply | Private Reply | To 1 | View Replies]

To: Chickensoup

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.


8 posted on 10/20/2023 1:13:05 PM PDT by babble-on
[ Post Reply | Private Reply | To 1 | View Replies]

To: 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


9 posted on 10/20/2023 1:13:09 PM PDT by Chickensoup (Genocide is here. Leftist extremists are spehe used tarheading the Genocide against conservatives. )
[ Post Reply | Private Reply | To 1 | View Replies]

To: Chickensoup

Wei


10 posted on 10/20/2023 1:15:54 PM PDT by Chickensoup (Genocide is here. Leftist extremists are spearheading the Genocide against conservatives. )
[ Post Reply | Private Reply | To 9 | View Replies]

To: glorgau

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.”


11 posted on 10/20/2023 1:39:30 PM PDT by SaxxonWoods (“99% of failure comes from people who make excuses.” -George Washington)
[ Post Reply | Private Reply | To 7 | View Replies]

To: Chickensoup

How about that Bidenomics is working. /sarc


12 posted on 10/20/2023 1:41:15 PM PDT by Blood of Tyrants ( "It is easier to fool people than to convince them they have been fooled."- Mark Twain)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Chickensoup

PLEASE EXPLAIN THE METHOD USED TO ARRIVE AT THIS CONCLUSION


13 posted on 10/20/2023 1:43:08 PM PDT by ridesthemiles
[ Post Reply | Private Reply | To 2 | View Replies]

To: Jamestown1630

Less money spent on commuting...


14 posted on 10/20/2023 1:43:39 PM PDT by Does so ( 🇺🇦...................."Who is Ray Epps?" should be overstamped on every piece of currency.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: glorgau

I DOUBT THAT YOU ARE IN THE MAJORITY


15 posted on 10/20/2023 1:44:13 PM PDT by ridesthemiles
[ Post Reply | Private Reply | To 7 | View Replies]

To: Chickensoup
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
16 posted on 10/20/2023 1:45:18 PM PDT by no-to-illegals (The enemy has US surrounded. May God have mercy on them.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Chickensoup

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


17 posted on 10/20/2023 1:46:41 PM PDT by antidemoncrat
[ Post Reply | Private Reply | To 1 | View Replies]

To: Blood of Tyrants

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.


18 posted on 10/20/2023 1:52:20 PM PDT by SaxxonWoods (“99% of failure comes from people who make excuses.” -George Washington)
[ Post Reply | Private Reply | To 12 | View Replies]

To: Does so

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


19 posted on 10/20/2023 1:52:20 PM PDT by Jamestown1630 ("A Republic, if you can keep it.")
[ Post Reply | Private Reply | To 14 | View Replies]

To: antidemoncrat

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


20 posted on 10/20/2023 1:53:48 PM PDT by SaxxonWoods (“99% of failure comes from people who make excuses.” -George Washington)
[ Post Reply | Private Reply | To 17 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-4041 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson