US HOUSEHOLD NET WORTH RISES BY $US3 TRILLION

The Federal Reserve’s Q4 2013 Z.1 “flow of funds” report is out.

According to the release, household net worth rose 3.8% ($2.95 trillion) to a new all-time high of $US80.66 trillion in the fourth quarter, following a 2.7% advance in Q3.

Total assets on household balance sheets rose 3.3% in Q4. The value of household real estate rose 2.1%, while the value of corporate equities climbed 10.5% and the value of mutual fund shares advanced 5.5%.

On the liabilities side of the balance sheet, the value of outstanding mortgages fell 0.1%, but consumer credit outstanding rose 2.0%.

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