American household wealth hits record high due to home prices

The net worth of U.S. households and nonprofits went over $100 trillion for the first time in Q1

New York Weekend Edition /
Jun.June 09, 2018 09:59 AM

(Credit from front: Josué Goge via Flickr, Max Pixel)

Despite a rocky ride on the stock market, rising home prices have carried American wealth to new heights in 2018.

In the first quarter of the year, the Federal Reserve pegged the worth of household and nonprofit wealth at $100.77 trillion, a jump from last year’s $99.74 trillion, according to the New York Post.

Household debt clocked in at an annual increase of 3.3 percent with a spike in the fourth quarter of 2017 attributed to spending on cars damaged in last year’s devastating hurricane season.

According to the Post, household wealth in comparison to disposable income stands at a record high ratio of 682.6 percent. [NYP]Erin Hudson


Related Articles

arrow_forward_ios
The penthouse in Lightstone's 40 East End was the most expensive contract, with developer David Edelstein of TriStar Capital selling the second priciest (Lightstone, Getty)
After early-July lull, Manhattan luxury deals are on the upswing again
After early-July lull, Manhattan luxury deals are on the upswing again
Brad Inman and Beringer Capital's Perry Miele (Inman, Beringer)
Inman acquired by private equity firm Beringer Capital
Inman acquired by private equity firm Beringer Capital
Gov. Andrew Cuomo (Getty, iStock)
NY rent relief rollout slowly inches forward as evictions loom
NY rent relief rollout slowly inches forward as evictions loom
Eric Adams (Getty, iStock)
City program could supplement state rent relief — if next mayor signs off
City program could supplement state rent relief — if next mayor signs off
John Catsimatidis and 670 Pacific Street (Getty, StreetEasy)
Catsimatidis notches win for landlords in 421a suit; tenants vow to appeal
Catsimatidis notches win for landlords in 421a suit; tenants vow to appeal
(iStock)
Overbooked Hamptons hotels spark bidding wars
Overbooked Hamptons hotels spark bidding wars
Photo illustration of Nest Seekers' Dylan Eckardt and the Amagansett property (iStock, Nest Seekers)
Tall tale: Nest Seekers’ “$50M” Amagansett sale was actually $16.5M
Tall tale: Nest Seekers’ “$50M” Amagansett sale was actually $16.5M
Robert Herjavec and One57 (Getty, Beyond My Ken/Wikimedia)
Robert Herjavec buys One57 condo at $13M discount
Robert Herjavec buys One57 condo at $13M discount
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...