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Economic News, Data and Analysis

Slow growth in Net worth

Looks like the housing market is driving any increases. Overall, not very encouraging…
Update: Here is the Fed’s report.

Fed wealth survey: How do you stack up? – Feb. 23, 2006
Debt, lower wages clip net worth growth
A Federal Reserve survey finds slowest increase in Americans’ net worth in over a decade.
By Jeanne Sahadi, CNNMoney.com senior writer
February 23, 2006: 12:26 PM EST
NEW YORK (CNNMoney.com) – Americans’ net worth grew between 2001 and 2004, but not nearly as strongly as it did between 1998 and 2001, according to the Federal Reserve’s triennial Survey of Consumer Finances released Thursday.
The big reason: while household assets increased, thanks largely to increased home ownership and higher housing prices, debts – especially home debt — rose considerably more.

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Filed under: Economy

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