U.S. household wealth jumped to a new high of $141.7 trillion at the end of June, a report from the Federal Reserve showed on Thursday, boosted by stock market gains and a pandemic-induced real-estate boom. Soaring equity markets fueled the increase in overall wealth, adding $3.5 trillion to household assets in the second quarter—a period in which the S&P 500 saw a total return of just over 8.5 percent after factoring in reinvested dividends. Rising real estate values added around $1.2 trillion, according to the U.S. central bank’s latest quarterly report on household, business, and government financial accounts. Overall U.S. household wealth rose by $5.9 trillion from the first quarter. The amount held in household savings deposits fell to $10.6 trillion in the second quarter from $10.8 trillion in the first quarter. Balances in checking accounts rose to $3.6 trillion from $3.3 trillion in the first quarter, the report showed. The …
US Household Wealth Rose to Record $141.7 Trillion in Q2, Fed Says
September 23, 2021
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