American wealth hits record high

The United States Federal Reserve (Fed) published the “Financial Accounts of the United States” report for the April-June period.

Thus, in the second quarter of this year the net wealth of the country’s households amounted to 154.3 billion dollars.

Household wealth, which reached a record level during this period, increased by 3.7 percent compared to the previous quarter and 4.9 percent compared to the same period in 2022.

The net worth of American households was estimated at $148.8 trillion in the first quarter of this year.

ACTIONS AND REAL ESTATE IMPACT

The increase in total household wealth in the second quarter of the year was influenced by the $2.6 trillion appreciation of US stocks and the $2.5 trillion increase in the total value of real estate.

INCREASE IN DEBT

The increase in US household debt rose from 2.4 percent to 2.7 percent in the second quarter of this year.

During the mentioned period, consumer loans increased by 2.3 percent and mortgage debt (home loans) increased by 2.8 percent. (AA)