January 13, 2021

.Consumer net worth rose $3.6 trillion in the third quarter.  That works out to an annualized rate of increase of 12.8% which follows a 29.8% increase in the second quarter.  Over the past year consumer net worth has increased 7.5%.

The growth in net worth reflects both the steady increase in stock prices during the course of the past year as well as the growth in home prices.  Despite the recession and a pandemic, consumer net worth has continued to climb.

Stephen Slifer

NumberNomics

Charleston, SC