TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Household wealth hit high in 1st quarter

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

Daily Photo Galleries

By The Associated Press
Friday, June 6, 2014, 12:01 a.m.
 

Rising stock markets and home prices helped lift American household wealth to a record in the first three months of the year.

The Federal Reserve said on Thursday that household net worth increased $1.5 trillion in the first quarter to $81.8 trillion. The gain was driven by higher home prices, which boosted Americans' home values $758 billion. Stock and mutual fund holdings rose $361 billion.

Checking account balances, pensions plan assets and retirement savings, such as 401(k)s, also increased.

The Fed's figures aren't adjusted for population growth or inflation. And the wealth is flowing mainly to affluent Americans: Roughly 10 percent of households own about 80 percent of stocks.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Business Headlines

  1. Tourists rush to visit Cuba before American influence felt
  2. If you get this letter from the IRS, it’s legitimate
  3. Home appraisal is below sales price — now what?
  4. Corporate missteps hurt reputations, profits, sometimes in long run
  5. Stafford: Hirers bemoan wasted time with some applicants
  6. Venting online about job protected
  7. Farmers fund research on gluten-free wheat
  8. Heinz merging with Kraft in mega-deal; headquarters to stay in Pittsburgh
  9. France plane crash victim’s father calls for airlines to focus on pilot welfare
  10. Komando: Boost cellphone signal when nixing landline
  11. U.S. shale drillers try to keep costs competitive with oil from abroad