U.S. household net worth jumps to record $142 trillion

Posted by Greg Robb and Rex Nutting, marketwatch.com

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Total U.S. household net worth — the value of all assets minus liabilities — jumped by $5.8 trillion to a record $141.7 trillion at the end of June, according to a report from the Federal Reserve released Thursday.

The value of corporate equities rose $3.5 trillion to $47 trillion in the second quarter and the value of real estate rose a record $1.2 trillion to $38.4 trillion, the Fed said in its quarterly report on the financial accounts of the United States.

Balances in currency, checking accounts, savings accounts and money-market funds rose by $200 billion in the second quarter to a record $17 trillion. Cash holdings of households have risen by $4.3 trillion since the beginning of 2020…read more.