Friday, December 11, 2009

Richer Households


Posted by Kenny Hernandez

NEW YORK (CNNMoney.com) -- Household net worth in the United States rose for the second quarter in a row, growing 5% to an estimated $53.4 trillion in the third quarter, the Federal Reserve said Thursday.

The $2.7 trillion rebound in net worth, which is the difference between a household's assets and liabilities, comes as stock prices have rallied this year, boosting the value of Americans' investment portfolios.

Stock holdings rose by nearly 17% to $7.4 trillion, according to the central bank's quarterly flow of funds report.

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