-
US home price gains lift household wealth to $90.2 trillion
A healthy increase in home values and higher stock prices drove up U.S. household wealth in the July-September quarter, though the gains are largely concentrated among wealthier Americans. The Federal Reserve says real estate values increased $554 billion in the third quarter, while Americans' stock and mutual fund portfolios rose $494 billion. Total household wealth, which includes checking and savings accounts and subtracts mortgages and other debt, increased 1.8 percent to $90.2 trillion. The rise suggests that Americans' finances are improving, with more families building equity in their homes. Greater wealth can ... (full story)