March 6, 2014
NO ONE HAS IT HARDER THAN THEIR FATHER DID:
U.S. Household Net Worth Hits Record High : Fed Finds 14% Increase in Americans' Wealth, Thanks to Stock and Home-Price Rally (NEIL SHAH, March 6, 201, WSJ)
Posted by Orrin Judd at March 6, 2014 12:46 PMThe net worth of U.S. households and nonprofit organizations--the value of homes, stocks and other assets minus debts and other liabilities--rose 3.8% in the fourth quarter of 2013, up about $3 trillion from the prior quarter, to $80.7 trillion, according to a report by the Federal Reserve released Thursday.Overall, Americans' wealth rose 14% in 2013, or $9.8 trillion, from 2012. [...]The Fed's figures don't account for inflation or population growth. Still, even after adjusting for inflation using the Fed's preferred inflation gauge, Americans' net worth is at record levels. That suggests Americans have made considerable progress repairing the damage inflicted by the housing crash and recession, which ran from December 2007 through June 2009.