Household wealth hit high in 1st quarter
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.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Google rejects European Union antitrust charges over search results
- Regulators expect lawsuit over oil, gas rules process
- Clean Air Council challenges Sunoco Pipeline’s public utility status
- Stocks, oil prices regain ground after steep 6-day sell-off
- Board ruling boosts efforts for fast-food collective bargaining
- GNC chief Archbold touts tailored mail promotions
- Roundup: Kraft Heinz recalls more than 2M pounds of turkey bacon; 2 key Mylan shareholders won’t participate in Perrigo vote; more
- Rankings: CEO pay 200 times median
- S.W. Randall Toyes & Giftes of Pittsburgh’s owner finds joy in toys
- Marcellus shale drillers, Pa. settle 3 cases of fouling water supplies, pay $374K
- Busy Beaver Home Improvement Centers join True Value co-op