TribLIVE

| Business


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

Household wealth hit high in 1st quarter

Email Newsletters

Click here to sign up for one of our email newsletters.

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.

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. Experts: If health insurers’ safeguard goes broke, consumers could pay
  2. Nike, Under Armour invest in watching exercisers’ steps
  3. Kings Family Restaurants sold to California firm
  4. Scented society is killing cheap perfume industry
  5. Pittsburgh union serving TV, film production looking for lots of help
  6. Guessing approach can result in big bill
  7. Retailers vie for workers in tightening labor market
  8. Low average of jobless claims points to hiring rebound
  9. Visa limits vex businesses
  10. Acura ILX strikes balance
  11. Lexus sport coupe has youthful appeal, power