U.S. household wealth rose to record $141.7 trillion in Q2, Fed says By Reuters

U.S. household wealth rose to record $141.7 trillion in Q2, Fed says By Reuters


© Reuters. FILE PHOTO: Stacks of former U.S. President Abraham Lincoln on the five-dollar bill currency are seen at the Bureau of Engraving and Printing in Washington March 26, 2015. REUTERS/Gary Cameron/File Photo

(Reuters) – U.S. household wealth jumped to a new high of $141.7 trillion at the end of June, a report from the Federal Reserve showed on Thursday, boosted by stock market gains and a pandemic-induced real-estate boom.

Rising equity markets fueled the increase in overall wealth, adding $3.5 trillion to household assets in the second quarter – a time period in which the saw a total return of just over 8.5%.

Increasing real estate values added around $1.2 trillion, according to the U.S. central bank’s latest quarterly report on household, business and government financial accounts.

Overall U.S. household wealth rose by $5.9 trillion from the first quarter.

The amount held in household savings deposits fell to $10.6 trillion in the second quarter from $10.8 trillion in the first quarter. Balances in checking accounts rose to $3.6 trillion from $3.3 trillion in the first quarter, the report showed.

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