US Household Net Worth Hits Record $92.8-T

US Household Net Worth Hits Record $92.8-T

US Household Net Worth Hits Record $92.8-T

A Federal Reserve report released Thursday showed US household net worth soared to a record $92.8-T in the last Quarter of Y 2016, fueled by an end-of-year surge in stocks and a steady climb in home prices.

The Federal Reserve’s Quarterly financial accounting showed the biggest contributor to the household net worth hike was the stock market, which added $728-B to household balance sheets in the 4th Quarter.

The WS-J noted the stock market rallied by about 8% in the last Quarter after the election of President Donald Trump, and has climbed an additional 6% YTD.

Real Estate gains also contributed to the Q-4 rise, the Federal Reserve report showed. The WS-J reported the value of real estate owned by households and nonprofit organizations climbed by $557-B in the final Quarter, reaching a record $26.5-T.

“The national rise in home prices benefits the majority of Americans who own homes, and rising equities benefit many middle-class households with savings in 401(k) and IRA accounts,” the WS-J correspondent Josh wrote.

Have a terrific weekend.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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