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Household Net Worth Hits Record High

U.S. household net worth hit a record high in the third quarter as home prices marched up and the value of stocks and mutual funds surged, a hopeful sign for the economic recovery.

The Federal Reserve said on Monday household wealth increased $1.9 trillion to $77.3 trillion in the third quarter, the highest level since records started in 1945.

Though the surge in net worth was encouraging, economists cautioned against reading too much into the rise as it would have benefited only the portion of the population with access to equities and those who owned homes.

Source: Reuters. Read full article. (link)

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  • Jull||

    I do believe in miracles and want that we avoid the collapse, but I would be very cautious speaking now about the signs of economic recovery already. The present conditions are very complicated for the country and the people on the whole, but there are still some ways out of a financial crisis and they are different for different categories of citizens.

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