Amer­i­cans’ house­hold wealth rises to $89.1 tril­lion

Baltimore Sun - - BUSINESS MARYLAND -

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

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