In the first quarter of 2017, Americans’ net worth hit $94.8 trillion, which was up 1.4 percent, the Associated Press reported.
According to the Federal Reserve, stock and mutual fund portfolios increased by $1.3 trillion in value and home values were up $499 billion.
Before the recession, which began in December 2007, household net worth stood at about $66.5 trillion. Household net worth has greatly increased since then.
“Record-high stock prices are the primary driver of greater household wealth,” the article states. “The Dow Jones industrial average has more than tripled from its recession-era low of 6,547 to 21,174 on Wednesday.”
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