Household wealth in the United States fell by its second-fastest pace in history in the first three quarters of the year, but was buoyed by a positive performance in real estate, according to a Dec. 9 report by the U.S. Federal Reserve.
“The net worth of households and nonprofit organizations declined $0.4 trillion to $143.3 trillion in the third quarter. The value of stocks on the household balance sheet declined by $1.9 trillion, while the value of real estate increased by $0.7 trillion,” according to the Financial Accounts of the United States - Z.1 report.
