Prior revised from 2347B
The change in US household wealth in the second Quarter increased by 1698 billion. The first quarter change was revised to +2327 billion versus +2347 billion.
- Fresh record for US net worth driven by solid gains of financial assets and rising property values
- The gain was 1.8% to 96.2 trillion
- Value financial assets including stocks and pension fund holdings increased by 1.2 trillion
- household debt increased by 3.7% annual rate in the second quarter
- household real estate assets rose by 508 billion. Owners equity as share of total real estate holdings up to 58.4% from 57.9%
- Mortgage borrowing is asked by 2.8% annualized pace
- other credit including one on student loans increased by 4.6%
The increase in wealth reflects steady growth in house prices. Prices were up 5.7% in June from a year ago. The gains were also increased by a 2.6% rise the S&P 500 index in the last quarter.
The report also showed that companies had almost 2.3 trillion in liquid assets. This gives them the means to boost investment.
