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Stock and housing gains put US net worth at record
Higher stock prices and home price gains lift US household wealth to record $80 trillion
By CHRISTOPHER S. RUGABER
Associated Press
2014-03-07 03:01 AM

WASHINGTON (AP) -- A surging stock market and rebounding home prices boosted Americans' wealth to a record in the final three months of last year, though both trends have slowed so far in 2014.

Household net worth jumped nearly $3 trillion during last year's fourth quarter to $80.7 trillion. Stock and mutual fund portfolios gained nearly $1.7 trillion, or 9 percent.

The value of Americans' homes rose just over $400 billion, a 2 percent gain. And checking account balances, pensions plan assets and retirement savings, also increased.

U.S. home prices nationwide during 2013 rose by the most in eight years. And the Standard & Poor's 500 index of large stocks jumped 32 percent.

So far this year, home-price gains have slowed, and the S&P 500 has risen just 1.4 percent.

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