Much of the increase came thanks to a volatile but robust rally on Wall Street, which pushed the value of U.S. personal equity holdings up $2.8 trillion. Real estate values rose a more modest $400 billion amid rising property values across some big markets as well as suburban areas that have benefited from flight from U.S. cities.
The increase came amid a strong rebound from the U.S. economy, which saw gross domestic product explode by a post-Depression record 33.1% annual rate during the July-to-September period.Domestic nonfinancial debt rose 5% for the period to just over $60 trillion. That came primarily from a 5.6% expansion in household debt, which would be the biggest increase since 2007. Corporate debt declined 0.9% after respectively increasing 14.2% and 18.6% in the previous two quarters.
Federal government continued its upward trajectory as well, rising 9.1% though that was well off the 58.8% explosion in the second quarter as the government deployed much of the $2.2 trillion in CARES Act rescue funding for an economy crippled by the early days of the pandemic.Related Tags
Adrienne_Towner
Just checked the old bank account. Apparently this article is not about me.
anblanx Not sure why this is surprising people
😎👁💵
So there top 20% got richer, good for them.
average or median?