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Category: Money

Household Wealth Climbs to $1.2 Trillion

Written on December 12, 2010 by Japhet Writ

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Americans got richer in the third quarter even as home values hit the skids after more than a year of increases. According to the Federal Reserve's Flow of Funds report, net worth for households and individuals climbed $1.2 trillion.

Although home values hit the skids, net worth for households and individuals climbed to $1.2 Trillion, or 2%, in the third quarter. The growth returned with the help of higher , and with the S&P rising to 11% after its 12% downfall in the second quarter. The also jumped to $939 Billion, while gained $378 Billion. Meanwhile, liabilities fell at $7.6 Billion in the third quarter, in line to a $64 Billion drop in home mortgages due to $22 Billion gain in consumer credit.

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