U.S. Household Wealth Hits Record High as Stock Market and Home Values Rise, But Debt Also Increases

U.S. household wealth hit a record high of over $154 trillion in Q2 2022, aided by stock market gains and rising property values.
Household cash holdings continued to decline, falling by $66 billion from Q1 to $17.7 trillion, the 5th straight quarterly drop.
Savings shifted from bank deposits to money market funds, with deposits falling over $200 billion.
Total nonfinancial debt rose at an annualized rate of 6.3% to $71.2 trillion, driven by a 12.7% increase in federal debt.
Business debt growth slowed substantially to a 1.9% annualized rate, the slowest since Q4 2020.

reuters.com

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Posted 9/8/2023, 5:45:00 PM

U.S. Household Wealth Hits Record High as Stock Market and Home Values Rise, But Debt Also Increases

U.S. household wealth hit a record high of over $154 trillion in Q2 2022, aided by stock market gains and rising property values.
Household cash holdings continued to decline, falling by $66 billion from Q1 to $17.7 trillion, the 5th straight quarterly drop.
Savings shifted from bank deposits to money market funds, with deposits falling over $200 billion.
Total nonfinancial debt rose at an annualized rate of 6.3% to $71.2 trillion, driven by a 12.7% increase in federal debt.
Business debt growth slowed substantially to a 1.9% annualized rate, the slowest since Q4 2020.

reuters.com

Relevant topic timeline:

9/3/2023

Every Generation Lost Wealth Last Year—Except One

9/7/2023

How Much Does it Take to Be Wealthy in America?

9/11/2023

Global Ultra Wealthy Population and Wealth Decline in 2022 Due to Economic Turmoil

9/12/2023

U.S. Household Wealth Hits Record High but Inflation and Rates Create Financial Uncertainty

9/13/2023

U.S. Holds Massive $147 Trillion in Private Wealth, But Public Debt Clouds Economic Outlook

9/26/2023

US Home Prices Rebound to Record High in July After Brief Cooldown

US home prices reach a record high as the market rebounds, with prices increasing for a sixth consecutive month and offsetting last year's decline, according to S&P CoreLogic Case-Shiller data.

9/26/2023

Florida Overtakes New York as 2nd Most Valuable US Housing Market, Now Worth $3.8 Trillion

9/28/2023

Households Lose Record $7 Trillion in Global Financial Assets in 2022, Biggest Drop Since 2008 Crisis

10/3/2023

Elon Musk Tops Record-High Forbes 400 List as Trump and Others Fall Off