WASHINGTON (AP) — For the first time in two years, Americans actually got a little wealthier. Household wealth grew by $2 trillion, or about 4 percent, this spring, ending the longest stretch of quarterly declines on records dating back to 1952, the Federal Reserve reported Thursday. Net worth — the value of assets such as homes, checking accounts and investments minus debts like mortgages and credit cards — came to $53.1 trillion for the second quarter. Stock portfolios came back to life this spring after the market hit its lows for the year in March, and home prices have stabilized.
Americans’ household wealth grows for first time in two years
September 16, 2009