A recent U.S. Federal Reserve report found that household wealth in the United States has suffered its second-fastest decline since 1959 during the first three quarters of this year. Only a positive performance in real estate helped ease the decline.
The Fed’s Financial Accounts of the United States report shared, “The net worth of households and nonprofit organizations declined $0.4 trillion to $143.3 trillion in the third quarter. The value of stocks on the household balance sheet declined by $1.9 trillion, while the value of real estate increased by $0.7 trillion,”