American household net worth hits record

$163.8T

American household net worth rose 1.7% over the previous quarter to a new record of $163.8 trillion in Q2, according to the Federal Reserve. Surging values of residential real estate and solid stock market gains drove the bump.

As we’ve mentioned before, the combination of high interest rates, high home values, and strong stock market performance has been a godsend for Americans with wealth — homeowners, those with stocks or bonds, or even just cash savings benefiting from high interest rates.

Those who live paycheck to paycheck haven’t done as well, thanks to inflation. But the slowdown in price increases over the last couple years did help to boost real — that is, inflation-adjusted — incomes a bit too.

New numbers this week on inflation-adjusted median household income, one of the best thumbnail sketches of how a typical American family is doing, rose 4% to $80,610 last year. That’s also a new high.

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