U.S. Household Wealth Rose by $1.08 Trillion in Second Quarter
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Household wealth in the U.S. accelerated in the second quarter, boosted by higher financial assets and rising real-estate values, figures from the Federal Reserve in Washington showed Friday.
A 1.9 percent gain in the Standard & Poor’s 500 Index in the second quarter, along with household wealth generated from rising house prices, signal Americans’ financial positions continue to strengthen in the eighth year of the expansion. A re-acceleration in wages would provide a further boost to balance sheets, giving consumers even greater wherewithal to continue spending.