Household Worth in U.S. Rose by $837.4 Billion in First Quarter
- Rising real estate values drive gain as stocks little changed
- Mortgage borrowing climbs for fourth consecutive quarter
Three Must-See Charts on U.S. Household Worth
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Household wealth in the U.S. increased in the first quarter as rising real-estate values propped up Americans’ finances, figures from the Federal Reserve in Washington showed Thursday.
With the Standard & Poor’s 500 Index up just 0.8 percent in the first quarter, household wealth was mostly supported by steadily increasing real-estate values as housing continues to recover from the financial crisis. However, a re-acceleration in job growth that also brings a significant pickup in wages will be needed to strengthen balance sheets further, especially for those without access to assets like stocks and homes.