US household wealth reaches record high $77.3 trillion

[Redfairen]

Source: Associated Press

Americans' wealth reached an all-time this summer, buoyed by record-setting stock prices and a healthy recovery in home values.

The Federal Reserve says to U.S. net worth, a measure of household wealth, rose 2.6 percent to $77.3 trillion in the July-September quarter. Net worth reflects the value of homes, stocks, bank accounts and other assets minus mortgages, credit cards and other debts.

Rising stock prices boosted Americans' net worth $917 billion. Higher home values added another $428 billion.

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



Read more: http://m.miamiherald.com/mh/db_308598/contentdetail.htm?contentguid=DM7DtevF

[annabanana]

1. Stupid, content free info they got there...

average?
mean?

I get so tired of headlines that convey NO information.

Not a knock at you Redfairen. They DO eventually get around to co tent in the body...

[subterranean]

2. Key sentence: The gains haven't been equally distributed.

Almost all of this increase in wealth has gone to the already wealthy.

[Plucketeer]

6. LOL

Yeah, I keep waitin' by the front door for our share to show up. Bills - only ever-increasing bills!

[Earth_First]

3. Pffft.

Right.

[Fantastic Anarchist]

4. This means absolutely nothing ...

... as long as we have people living below the poverty line, or the disparity in income is at an all time high, records in household wealth mean zilch.

[DesertDiamond]

5. I own about $4124 of that. That's the Kelly Blue Book for my car. Everything else I own...

is stuff someone else was throwing away

[freshwest]

7. So 10% of Americans combined have a net worth of $77.3 trillion. Not paying much taxes, either?

The mind begins to go tilt at such staggering amounts.

[valerief]

8. Not my household. nt

[tofuandbeer]

9. :/

It must be nice.

[madrchsod]

10. hell we lost money this year....