STOCK MAR­KET BUMPS UP US HOUSE­HOLD WEALTH

Austin American-Statesman Sunday - - MONEY & MARKETS EXTRA -

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.

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