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Economic news

US household wealth hits record $163.8 trln on real estate gains

09/12/2024

Less than a minute

2024.09.12 12:54

(Reuters) – U.S. household wealth rose last quarter to $163.8 trillion, a fresh record, driven by gains in real estate values as well as a rise in the stock market, data from the Federal Reserve showed on Thursday.

The net worth of households and non-profits as of the end of June topped the $161 trillion reported for the first quarter, as the value of real estate holdings increased $1.8 trillion and the value of equity holdings rose $700 billion. Household debt also rose, at an annualized rate of 3.2%, the report showed.

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09/12/2024

Less than a minute