Obviously there is still far to go before Americans break even with the previous highs. Interesting how Wall Street has already recovered as though nothing happened yet the customers haven't. What impressive customer service. Then again, why would anyone care about the folks that generate 70% of the US economy?
U.S. households' net worth rose by $2 trillion to $53.1 trillion in the second quarter, the first increase since before the recession began in 2007, Federal Reserve data showed on Thursday.
The increase in wealth, the first since the third quarter of 2007, came in a period that saw stabilization in the housing market and huge gains in global financial markets. However, even with the $2 trillion rise, household net worth was still well below 2007's level of $63.9 trillion.
