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Household Wealth Jumps to Record Level

Household Wealth Jumps to Record Level

US houesehold wealth increased 1.9% in 4Q14 to almost $83T, a record number driven by big gains in the stock market and a housing recovery. Aggregate American home values jumped $356B, with stuck and mutual fund portfolios gaining $742B in value. But, as has become the norm, a rising tide did not life all boats as the winning streak remained largely confined to the wealthiest households. For instance, 10% of US households own 80% of stocks. But despite that caveat and others issues with this particular economic gauage—it measures only financial worth, excluding public pension earnings among other things—the overall increase in wealth will hopefully prove a broad boon in the long term. [Forbes]