From Investing.com: 2024-06-07 14:56:04

U.S. household wealth reached a new high of over $160 trillion in the first quarter of 2024, driven by stock market gains and real estate appreciation, as per Federal Reserve data. Household net worth rose by $5.1 trillion, with equity holdings contributing $3.8 trillion to the increase.

The S&P 500 Index saw a 10.6% gain in Q1, hitting another record high recently. Real estate values added $0.9 trillion to the overall household net worth increase, while other assets like cash also saw growth. Over the past decade, household net worth has nearly doubled.

Total nonfinancial debt increased by 4.5% in Q1, with the federal government’s obligations rising by 6.2%. This ended a streak of three quarters where federal debt growth exceeded 10%. Household debt grew by 2.9%, and business nonfinancial debt increased by 4%.



Read more at Investing.com: US household wealth hit another record in first quarter, Fed data shows By Reuters