Americans’ household wealth rises to $89.1 trillion
U.S. household wealth rose at a solid pace in the April-June quarter, pushed by healthy gains in home values and stock portfolios.
The Federal Reserve said Friday that net worth climbed 1.2 percent to $89.1 trillion, led by a 2.3 percent increase in the value of Americans’ stock and mutual fund holdings to $21.2 trillion. Housing wealth increased 1.9 percent to $25.6 trillion. The value of checking and savings accounts, as well as pension entitlements, also rose.
The report also showed that Americans are willing to take on more debt, particularly mortgages, a sign of increasing confidence in the economic future and that Americans’ household finances are in