U.S. households' net worth was $2 trillion higher June 30 than three months earlier, the Federal Reserve reported Thursday, mainly because of the Wall Street rally, though rising home prices also contributed. Net worth is defined as assets minus liabilities. Assets rose $2 trillion to $67.2 trillion, while liabilities fell $34 billion to $14.1 trillion. Household debt has fallen four quarters in a row and is down 5 percent from its peak. Before this recession, it had never declined in any quarter dating to 1952. - Associated Press
Americans' net worth at the end of the April-to-June quarter, an increase of $2 trillion over 2009's first quarter.
The peak of Americans' net worth, reached two years ago. It has declined every quarter since.
Analysts' estimate of the economy's growth rate in the current quarter, which ends Sept. 30.
Equity homeowners have in their homes in the second quarter, up from a record low of 41.9 percent in the first quarter.
Total household debt in the second quarter, down slightly from $13.8 trillion in the first three months of this year.