US household wealth hit high in first quarter

Published June 5, 2014 6:34pm ET



WASHINGTON (AP) — Rising stock markets and home prices helped lift U.S. household wealth to a record in the first three months of the year.

The Federal Reserve said Thursday that household net worth increased $1.5 trillion in the first quarter to $81.8 trillion. The gain was driven by higher home prices, which boosted Americans’ home values $758 billion. A rising, if choppy, stock market pushed up stock and mutual fund holdings $361 billion.

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