March 12, 2015
TRICKLE DOWN WORKS AGAIN:
Wealth Gains Start to Lift More Boats : Household wealth hits highest level ever, up $1.5 trillion in fourth quarter to $82.9 trillion (NEIL SHAH, March 12, 2015, WSJ)
The value of stocks and mutual funds owned by households jumped $742 billion during the quarter, when the Standard & Poor's 500-stock index gained 4.4%. For the year, the index gained 11.4%.Much of the nation's stock-market gains goes to the wealthy, who tend to save the proceeds.However, the value of residential real estate--the biggest asset for most Americans--also saw a healthy pickup of $356 billion last quarter. That shows the expansion is being felt more broadly."More people are participating in the wealth creation in America," said Joseph Carson, an economist at Alliance Bernstein.
Posted by Orrin Judd at March 12, 2015 6:33 PM
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