American Net Worth Growth

US net worth grows in last quarter of 2012US net worth grew in the last quarter of 2012 to almost reach pre-recession levels at $66.1 trillion, up over one trillion from the previous three months.

Net worth – which is the value of personal assets like property, shares and savings, then deducting any debts – is expected to exceed the $67.4 trillion pre-recession high in the first quarter of 2013, when the figures are released.

Although the majority of the gain has been due to a healthier stock market, which will generally benefit wealthier Americans, it is still hoped that positive movement like this will increase the public’s confidence and help stimulate the economy further.

Home equity has unarguably increased at a much less impressive rate though, with the nationwide value of homes almost a third below their high.

While spending is expected to increase, it is still likely to be far more cautious than before the Great Recession, with the increased costs of things like Social Security and gas. Still, it’s encouraging to see some positive economic news. Further reading at USA Today.

Philip