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September 19, 2014

U.S. household wealth has set a new record

  • But the gains are flowing mainly to affluent Americans. Middle-income Americans rely mainly on home equity to build wealth, and prices are still below the 2006 peak.
    • By CHRISTOPHER S. RUGABER
    AP Economics Writer

    WASHINGTON — Strong stock market gains and higher home prices boosted Americans' net worth in the April-June quarter to a record high, a trend that could encourage more spending.

    U.S. households also took on the most new debt in five years, driven mostly by student and auto loans. More borrowing can be a sign of confidence, although greater student debt can pose a burden for younger households.


     
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