Jun 12, 2021 - Economy

Household net worth soars

Data: The Federal Reserve via FRED; Chart: Axios Visuals

Household net worth notched a new record last quarter, per data out today from the Federal Reserve.

What's happening: The biggest gain ($3 trillion) came from rising stock market investments.

  • Skyrocketing real estate values accounted for another $1 trillion in gains.

But, but, but: The biggest beneficiaries are the higher income and wealthy "since they will have been heavily invested in these asset classes already," economists at ING wrote in a note.

What to watch: Household debt ($17 trillion) grew at the quickest rate since 2006, per CNBC.

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