Wealth Rebounds — But Mostly For The Wealthy

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Wealth Rebounds — But Mostly For The Wealthy

by Wochit 0:45 mins

Wealth Rebounds — But Mostly For The Wealthy

by Wochit 0:45 mins

America is rich again — if you add up all the money. But a familiar, unhappy tale is playing out as the nation recovers the household wealth lost from 2007 to 2012. The total amount of household net worth hit a new record of $80.7 trillion at the end of 2013, according to the Federal Reserve. That’s certainly better than the grueling declines that occurred during the twin housing and stock-market busts. But a deeper look at the numbers shows that the kind of wealth held primarily by the affluent — financial assets — has soared beyond prior levels, while the most common middle-class asset — home equity — is still far below prior highs.

Wochit

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