Wealth rebounds — but mostly for the wealthy…
The total amount of household net worth hit a new record of $80.7 trillion at the end of 2013, according to the Federal Reserve. That’s certainly better than the grueling declines that occurred during the twin housing and stock-market busts. But a deeper look at the numbers shows that the kind of wealth held primarily by the affluent — financial assets — has soared beyond prior levels, while the most common middle-class asset — home equity — is still far below prior highs.
Its an especially good read given the yoyo ride we’ve been on through the housing bubble, credit crash and QE fueled recovery.
Read the full article HERE.