U.S. Household Wealth Rises $1.7 Trillion to Another Record
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U.S. household wealth increased in the second quarter to yet another record, driven by solid gains in financial assets and rising property values, figures from the Federal Reserve in Washington showed Thursday.
The increase in household wealth reflects steady growth in house prices, which were up 5.7 percent in June from a year ago, based on S&P CoreLogic Case-Shiller data, as well as a 2.6 percent rise last quarter in the S&P 500 Index, which is hovering near a record high.