WASHINGTON – Americans got wealthier for a second straight quarter in the fall, thanks to gains in stock investments and home values.
Net worth — the value of assets such as homes, bank accounts and investments, minus debts like mortgages and credit cards — rose 5 percent from the second quarter to $53.4 trillion, the Federal Reserve said Thursday.
link: Americans' net worth up for 2nd straight quarter - Yahoo! News
...and the AP. But, wait...
Yet even with that gain, Americans' net worth remains far below the revised peak of $64.5 trillion reached before the recession began. That underscores the vast loss of wealth over the past two years. Net worth would need to rise an additional 21 percent just to return to its pre-recession peak.
Oh.
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