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Article updated: 9/25/2013 11:52 AM

Home and stock values boost U.S. household wealth

U.S. household net worth jumped $1.3 trillion in the spring, fueled by gains in home and stock values.

U.S. household net worth jumped $1.3 trillion in the spring, fueled by gains in home and stock values.

 

Associated Press

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By Associated Press

WASHINGTON -- U.S. household net worth jumped $1.3 trillion in the spring, fueled by gains in home and stock values.

The Federal Reserve says net worth rose to $74.8 trillion in the April-June quarter, up 1.8 percent from the first quarter. Home prices and stock markets have risen further since then, suggesting that Americans' net worth is now even higher.

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The gains in wealth haven't been evenly distributed. Home ownership has declined since the recession, particularly among lower-income Americans. And the wealthiest 10 percent of households own about 80 percent of stocks.

Americans' wealth bottomed at $57.2 trillion in 2008 during the Great Recession. It's since risen $17.6 trillion.

Household wealth, or net worth, reflects the value of assets like homes, stocks and bank accounts minus debts like mortgages and credit cards.

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