Surge in wealth boosts most U S households columbian.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from columbian.com Daily Mail and Mail on Sunday newspapers.
The net worth of the typical U.S. household grew at the fastest pace in more than three decades from 2020 through 2022, while relatively low interest rates at that time made it easier for households to pay their debts, according to a government report Wednesday.
The net worth of the typical U.S. household grew at the fastest pace in more than three decades from 2020 through 2022, while relatively low interest rates at that time made it easier for households to pay their debts, according to a government report Wednesday.
A surge in wealth has boosted most US households since 2020 and helped sustain economic growth – Associated Press prescottenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prescottenews.com Daily Mail and Mail on Sunday newspapers.
The net worth of the typical U.S. household grew at the fastest pace in more than three decades from 2020 through 2022, while relatively low interest rates at that time made it easier for households to pay their debts. Wealth for the median household — the midpoint between the richest and poorest households — jumped 37% during those three years, the Federal Reserve reported, to nearly $193,000. (The figures are adjusted for inflation.) The increase reflected primarily a jump in home values and higher stock prices and a rise in the proportion of Americans who own homes and stocks.