Americans become more rich: thanks to rising stock and real estate prices.

The Federal Reserve released  its quarterly Z.1 report – known as the  “flow of funds” – which documents changes in U.S. household net  worth. In the first quarter of 2013, household net worth rose $3.003 trillion to a  record $70.3 trillion. In the fourth quarter of 2013, household net worth only  increased (an upward-revised) $1.397 trillion. Around $2.3 trillion of the increase in household net worth in Q1 owes to  rising asset and real estate prices. Below is a quick summary of the contents of the report:

Household net worth – the difference between the  values of households’ assets and liabilities – was $70.3 trillion at the  end of the first quarter of this year, about $3 trillion more than at the  end of 2012. In the first quarter, the value of corporate equities and mutual  funds owned by households expanded $1.5 trillion and the value of residential  real estate owned by households increased about $784 billion. Read more »

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