September 17, 2009

A BLIP ON THE GRAPH:

US net worth grew in 2Q for first time since '07 (Associated Press, September 17, 2009)

Americans' wealth rose this spring for the first time in nearly two years, with stocks and home values gaining as the recession faded.

Still, household net worth remains about 19 percent below its peak in the third quarter of 2007, before the recession began.

The Federal Reserve said net worth grew by $2 trillion to $53.1 trillion in the April-to-June quarter. Net worth, or the value of assets such as homes, checking accounts and investments minus debts like mortgages and credit cards, rose nearly 4 percent from the first quarter, the Fed said.

Posted by Orrin Judd at September 17, 2009 12:45 PM
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