Dr. Chhoda explores some eye opening statistics about US household net worth, which surged in the second quarter to surpass the pre-pandemic peak after a slump at the start of the year, as a rebound in stocks buoyed Americans’ wealth.
Household net worth increased by $7.6 trillion, or 6.8%, to $119 trillion, while the level of federal government borrowing soared as lawmakers responded with massive fiscal relief, according to a Federal Reserve report out Monday. The gain was the largest in quarterly records back to 1952. The value of equities advanced $5.7 trillion from the prior quarter while real estate increased about $458 billion.
TABLE OF CONTENTS
0:00 US Household Net Worth is Soaring
2:13 An Interesting Article from Bloomberg
4:11 The Wealth Recovery Chart
6:02 Increase in the Stock Market Does Not Benefit Everyone
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