That Sound You Hear Is All The Americans Spending Money Because Household Net Worths Skyrocketed To Record Highs
Americans’ net worth reached roughly $100 trillion in the fourth quarter of 2017 as a result of a booming stock market and rising property values.
Household net worth, which is the total value of all assets minus liabilities, ballooned in excess of $2 trillion in the fourth quarter of 2017 to a record-setting $98.746 trillion, The Wall Street Journal reports. Household network exceeded disposable income nearly seven times over to levels not seen since before the 2007-2009 Great Recession.
The stock market spent 2017 making and breaking records on a near weekly basis. The S&P 500 grew 19 percent and the Dow Jones Industrial Average rose 25 percent in 2017. Market capitalization skyrocketed in the trillions. American household wealth in the stock market grew over $1 trillion.
U.S. housing prices grew 1.9 percent in the fourth quarter. Household debts grew 5.2 percent, increasing over $206 billion.
The U.S. economy added 313,000 jobs in February, marking the 89th consecutive month of job growth on to what is already the longest streak on record.
Send tips to robert@
Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact email@example.com.