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US Household Wealth Sees Second-Fastest Decline Since 1959

Started by Epoch-Times-Bot, Dec 12, 2022, 02:00 PM

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Epoch-Times-Bot

Dec 12, 2022, 02:00 PM
US Household Wealth Sees Second-Fastest Decline Since 1959

Household wealth in the United States fell by its second-fastest pace in history, but was buoyed by a positive performance in real estate, according to a latest report by the U.S. Federal Reserve.
"The net worth of households and nonprofit organizations declined $0.4 trillion to $143.3 trillion in the third quarter. The value of stocks on the household balance sheet declined by $1.9 trillion, while the value of real estate increased by $0.7 trillion," according to the Financial Accounts of the United States – Z.1 report.
Overall, there has been a net worth decline of around $6.84 trillion in the first three quarters of 2022, which stands in stark contrast with the $18.78 trillion gain in 2021 and the $14.80 trillion growth in 2020....

Source: US Household Wealth Sees Second-Fastest Decline Since 1959

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Aug 23, 2024, 11:04 AM
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