STOCK MARKET BUMPS UP US HOUSEHOLD WEALTH
U.S. household wealth rose to a record $106.9 trillion in the most recent quarter, driven primarily by stock market gains.
Household net worth reflects assets like homes, bank accounts and stocks, minus debts like mortgages and credit cards. The value of Americans' stock and mutual fund portfolios rose $800 billion, while home values increased $600 billion, according to the Federal Reserve. The jump in household wealth doesn't reflect the experience of most U.S. households, however. The gains have flowed disproportionately to the most affluent households. The richest one-tenth of Americans own about 84 percent of the value of stocks.