Latest Breaking News

mahatmakanejeeves

(57,498 posts) Thu Jun 8, 2017, 02:18 PM Jun 2017

U.S. Household Net Worth Climbs to Record $94.8 Trillion

Source: The Wall Street Journal.

ECONOMY
U.S. Household Net Worth Climbs to Record $94.8 Trillion
Wealth in corporate equities climbed $1.3 trillion in first quarter, real estate value rose $0.5 trillion

By Josh Zumbrun
June 8, 2017 12:03 p.m. ET

The total net worth of U.S. households climbed by $2.3 trillion in the first quarter of 2017, reaching a record $94.8 trillion as the stock market soared and home prices climbed in many parts of the country.

Household wealth in the stock market climbed by $1.3 trillion in the quarter, showing just how much the market’s climb to Dow 20000 and beyond has created a swell of wealth on American’s investment statements that is helping underpin consumer confidence.

The figures are from a quarterly Federal Reserve report, (1) known as the Flow of Funds, that tracks the aggregate wealth of all U.S. households and nonprofit organizations.

The report showed that the value of household real estate rose by about $500 billion in the quarter, reflecting a continuing increase in national home prices. The sum Americans held in savings accounts rose by about $100 billion in the quarter. ... Household debts increased by about $46 billion in the quarter.
....

Write to Josh Zumbrun at Josh.Zumbrun@wsj.com

(1) https://www.federalreserve.gov/releases/z1/current/

Read more: https://www.wsj.com/articles/u-s-household-net-worth-climbs-to-record-94-8-trillion-1496937830

* * * * *

For free access, go in through the Twitter feed:

Link to tweet

* * * * *

https://twitter.com/JoshZumbrun

8 replies

= new reply since forum marked as read

Highlight:

U.S. Household Net Worth Climbs to Record $94.8 Trillion (Original Post) mahatmakanejeeves Jun 2017 OP

Real estate is crazy overpriced, though. LisaM Jun 2017 #1

Show the distribution...did not click through... angstlessk Jun 2017 #2

Federal Reserve report, 198 pages long: mahatmakanejeeves Jun 2017 #4

Home value is unrealized and difficult to monetize bucolic_frolic Jun 2017 #3

You got that one right. airplaneman Jun 2017 #7

And all but 2-3% held by the wealthy..........n/t Bengus81 Jun 2017 #5

That's good - with the caveat that 90% of that is with the top 20%. sandensea Jun 2017 #6

IOW, Bill Gates and Warren Buffet did very well. Yavin4 Jun 2017 #8

LisaM

(27,813 posts)

1. Real estate is crazy overpriced, though.

Reply to mahatmakanejeeves (Original post)

Thu Jun 8, 2017, 02:26 PM

Jun 2017

I live in Seattle and it's impossible to even think of buying a house or even a condo without an income well into three figures. A collapse is inevitable, but people should not be paying as much as they do for housing (and the state government needs to step in and do something about it).

angstlessk

(11,862 posts)

2. Show the distribution...did not click through...

Reply to mahatmakanejeeves (Original post)

Thu Jun 8, 2017, 02:30 PM

Jun 2017

mahatmakanejeeves

(57,498 posts)

4. Federal Reserve report, 198 pages long:

Reply to angstlessk (Reply #2)

Thu Jun 8, 2017, 02:52 PM

Jun 2017

https://www.federalreserve.gov/releases/z1/current/z1.pdf

It's clearly for people who think the Bureau of Labor Statistics does not release enough data.

bucolic_frolic

(43,188 posts)

3. Home value is unrealized and difficult to monetize

Reply to mahatmakanejeeves (Original post)

Thu Jun 8, 2017, 02:41 PM

Jun 2017

unless one decides to rent, or can hedge the high value with puts, a concept
which was floated in the 90s but a market never materialized for options on
housing. Closest one can come is home equity placed in the stock market -
a risky proposition.

airplaneman

(1,239 posts)

7. You got that one right.

Reply to bucolic_frolic (Reply #3)

Thu Jun 8, 2017, 03:18 PM

Jun 2017

The least expensive thing I could do is stay where I am at. I am at the age that borrowing for any reason is not a good idea it just increases my monthly expenses and I need to get that down if I ever want to stop working. If I sell and buy something else - besides the $25,000 minimum to sell, move, and buy something else there is also the $300-$500 per month property tax verses the $75 I pay now. I did invest some borrowed money in the stock market just before the 07/08 crash - You can guess how that worked out.
-Airplane

Bengus81

(6,931 posts)

5. And all but 2-3% held by the wealthy..........n/t

Reply to mahatmakanejeeves (Original post)

Thu Jun 8, 2017, 03:05 PM

Jun 2017

sandensea

(21,639 posts)

6. That's good - with the caveat that 90% of that is with the top 20%.

Reply to mahatmakanejeeves (Original post)

Thu Jun 8, 2017, 03:10 PM

Jun 2017

The remaining 80% of Americans (260 million people) own around $10 trillion between us, or $38,500 per person.

Not much compared to the $1.3 million owned by the average person in the top 20%.

Yavin4

(35,442 posts)

8. IOW, Bill Gates and Warren Buffet did very well.

Reply to mahatmakanejeeves (Original post)

Thu Jun 8, 2017, 03:45 PM

Jun 2017

The rest of you....not so much.

Reply to this discussion