Household net worth rose $4.5 trillion in the first nine months of this year, according to the Federal Reserve, driven by strong gains in financial assets and rising real estate values.
Household net worth is still about $2.5 trillion shy of its Q3 2006 peak of $67.3 trillion, but the recovery from the recession lows has been significant.
Notable year-to-date progress (rounded):
- Savings deposits +$200 billion
- Corporate equities +$1,070 billion
- Mutual fund shares +$900 billion
- Pension fund reserves + $900 billion
- Real estate +1,150 billion
No doubt about it, things are getting better.