Americans’ Net Worth Hits $85 Trillion, but Who Has the Money?
WASHINGTON - JANUARY 22: In an effort to provide some relief to U.S. and international markets, the Federal Reserve Bank cut interest rates January 22, 2008 in Washington, DC. The Fed cut its benchmark interest rate by three-quarters of a percentage point after two days of tumult in international markets due to fear of a recession in the United States. (Photo by Chip Somodevilla/Getty Images)
Chip Somodevilla—Getty Images
The report showed net worth went up by $1.6 trillion between January and March 2015, which brings our collective net worth to $84.9 trillion. A sizable portion of the increase came from real estate, estimated at $503 billion. Household-owned stocks and mutual funds accounted for $487 billion. The takeaway from these numbers is that Americans, as a whole, are doing well. But although the report may look good, we don't know who exactly is doing well. Job growth has, overall, come from low-wage jobs while the middle class stagnates.